SEA of Startups

This week’s episode is a news episode. No guests. Just four stories that I think every founder, investor, and operator in Southeast Asia should be paying attention to right now.Here’s what we cover, and why each one matters.1. China forced Meta to unwind a completed acquisition. Mid-honeymoon.In December, Meta acquired Manus — the AI agent startup that went viral in 2025 as China’s answer to deep research tools. The deal closed. Manus’s website was already saying it was part of Meta.On April 28th, Beijing’s NDRC told both parties to reverse it.The Singapore-washing playbook — where Chinese founders restructure as Singapore entities to access US capital — is now provably dead. Beijing just proved it can reach into a completed acquisition, across jurisdictions, and pull the plug.But the surface story is not the interesting story. The interesting story is the mechanics of what an “unwind” actually looks like. Money has already flowed through to investors and their LPs. Engineers have been working inside Meta for weeks. Knowledge transfer has happened. How do you reverse that?And then there’s the Meta question. Did they make a mistake — or did they knowingly race the regulator, betting that if they got the technology embedded before enforcement could land, a slow unwind would be better than no acquisition? Their public statement — “the transaction complied fully with applicable law, we anticipate an appropriate resolution” — says absolutely nothing. Which might be exactly the point.Singapore has been conspicuously silent throughout all of this. What that silence costs them is a conversation the episode goes deeper on.2. eFishery. Nine years. And it still doesn’t feel like enough.Gibran Huzaifah was sentenced to nine years on April 29th. Two other former executives received nine and seven years respectively.The numbers, if you haven’t heard them: the company told investors it generated $752 million in revenue from January to September 2024. Actual revenue was $157 million. They reported a $16 million profit. The actual result was a $35 million loss.SoftBank. Temasek. KWAP — Malaysia’s civil servant pension fund. All recovering less than ten cents on the dollar.But this episode is not a crime recap. The eFishery story is a prompt for a harder question about what kind of ecosystem we’re building here.Fraud exists on a spectrum. At one end: criminal fabrication at scale. At the other: things that happen every week across the region that would never see a courtroom — vanity metrics dressed as traction, pilots treated as revenue, LOIs presented as signed contracts. None of that is eFishery. But it is on the same continuum.And it is not only founders. Investors do it too.The reason this matters beyond the immediate case is economic. In a high-uncertainty market like Southeast Asia, trust is the operating system. When it erodes — when every investor assumes every founder is telling the most optimistic version of the truth — the whole system gets more expensive. More friction. More time on verification. Fewer deals done.A high-integrity environment is a high-output environment. The ecosystem gets the standards it is willing to enforce.3. Indonesia capped ride-hailing commissions at 8%. GoTo just posted its first-ever profit. Congratulations.On May 1st — International Workers’ Day, timing very much intentional — President Prabowo signed a regulation capping the maximum commission ride-hailing platforms can take from drivers at 8%. Down from 20%. Drivers now get a minimum of 92% of every fare.GoTo shares dropped nearly 6% on the news. Analysts estimated the ride-hailing segment accounted for roughly 48% of GoTo’s EBITDA. Grab, which derives about 20% of its total EBITDA from Indonesia, is also in the firing line.Both companies will either raise fares, eat the margin hit, or some combination of both. None of those options is clean.Here is the part that might be unpopular in a room full of investors: Prabowo is not entirely wrong.Indonesia has around four million ride-hailing drivers. The platform without the driver is just an app with nowhere to go. The economics for drivers have been genuinely rough. The system was designed to extract maximum value from a class of workers with very little negotiating power.The underlying question — how do we ensure the people who actually do the work get a fair share of what they create — is legitimate. If platforms do not answer it voluntarily, governments will answer it for them.The risk, of course, is that fares go up, volumes drop, and drivers end up worse off than before. That is the irony of heavy-handed regulation. But that is a problem for GoTo and Grab to solve. They had the data. They should have got ahead of this before a president had to sign a decree on Workers’ Day.4. Malaysia is building gas plants to power AI data centres. The energy transition did not plan for this.This week, a Melaka-based company called DPS Resources — until recently primarily a furniture and property developer — announced it signed an MOU with an Alibaba affiliate to explore building a $1.1 billion AGI data centre in Melaka. 150 to 180 megawatts. DPS provides the land, the power, the infrastructure. Alibaba’s entity handles operations and brings the computing demand.This deal is not an anomaly. It is a perfect emblem of what is happening across Malaysia right now. Everyone wants a piece of the data centre gold rush. The question not being asked loudly enough is whether Malaysia actually has the power to sustain it.TNB’s pipeline is 7,500MW across 56 data centre projects. Current actual load from those facilities: 850MW. The draw-down is coming as facilities rack up through 2026. At the same time, 6,400MW of coal-fired generation is scheduled for retirement between 2029 and 2031.To cover those retirements and meet rising demand, Malaysia needs roughly 12,000MW of new generation by 2031.Right now, the Energy Commission has an open tender — NewGen26 — for new gas-fired generation to plug that gap. Bids close July 1st. Eight weeks away. This is Malaysia racing to build baseload capacity before the demand wall hits. The fact that it is gas, not solar, tells you everything about the timeline pressure.The Iran conflict makes this personal. TNB’s Automatic Fuel Adjustment mechanism means global oil and gas price spikes feed directly into Malaysian electricity bills within 30 days. Data centres in Johor were approved on the premise of cheap, stable Malaysian electricity. That premise is now under pressure from a war on the other side of the world.The deeper question is who actually benefits from this boom. DPS provides the land and the power. Alibaba keeps the data, the models, and the IP. Research consistently shows data centres create the lowest number of jobs per square foot of any major facility type. Thousands of construction roles during the build, then roughly 200 operational staff when running.Malaysia is providing the real estate, the utilities, and the environmental cost. The hyperscalers are keeping the value.That is not a reason to stop. But it is a reason to be far more deliberate about what we are trading and what we are getting in return.Watch the episodeFour stories. One theme running underneath all of them: the rules are being rewritten. Who controls AI. Who controls capital flows. Who gets a fair share of the value created. Who owns the infrastructure the future runs on.These are not settled questions. They are live negotiations — between governments, between companies, between regions.Southeast Asia is not a passive observer in any of this.[Watch / listen to the full episode → link]SEA of Startups is a podcast for founders, investors, and operators building in Southeast Asia. Real. Raw. Relatable. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

Episode Title: The New Space Age Is Actually Here | Artemis II, SpaceX IPO & The Rise of Orbital InfrastructureEpisode SummaryRight now, four humans are flying around the moon. Not in a simulation. Not in a film. For real. Kevin uses the launch of Artemis II on April 1, 2026 as the jumping-off point for a deep dive into the most consequential shift in space exploration since the Apollo era — and why this time, it's not just governments leading the charge.From SpaceX's against-all-odds origin story to the trillion-dollar IPO that just rocked public markets, this episode charts how the economics of space fundamentally changed, what that means for a new generation of startups, and whether the science fiction stories we grew up watching are finally, actually, coming true.What We CoverArtemis II — Who's on board, what they're testing, and why this 10-day lunar flyby matters beyond the symbolismThe cost collapse — How SpaceX drove launch costs from $10,000–$20,000/kg down to under $2,000/kg (and potentially below $100 with Starship)The space economy by the numbers — $8B+ raised in 2025 alone, 154% YoY growth, 35,000+ companies globally, a projected $1T market by 2033Startups reshaping the supply chain — Rocket Lab, Apex, Hadrian, The Exploration Company, and the infrastructure plays most people aren't watchingEarth observation goes commercial — How Planet Labs and others turned satellite data into a sovereign government revenue modelThe SpaceX IPO — Filed confidentially the same day as Artemis II, targeting a June NASDAQ listing at a reported $1.5–2T+ valuation (potentially the largest IPO in history)Starlink's numbers — 10M subscribers, $10B revenue in 2025, projected $24B by end of 2026, and what direct-to-cell really meansOrbital data centers — Star Cloud's H100 GPU satellite, Google's Project Suncatcher, Blue Origin's TeraWave, and why AI's energy problem might get solved in orbitThe moon as infrastructure — Lunar ice mining, the South Pole fuel depot play, and Lone Star Data Holdings building a data center on the lunar surfaceThe sci-fi question — Are the stories we grew up with finally coming true?Key NumbersStatFigureSpace tech funding raised in 2025$8B+YoY growth in space funding154%Projected space market by 2033~$1 trillionNew employees added in the past year~200,000Cost to orbit in the 1990s$10,000–$20,000/kgCost to orbit today (Falcon 9)Under $2,000/kgStarlink subscribers (end of 2025)10 millionStarlink revenue 2025$10BSpaceX IPO reported valuation$1.5–2T+Star Cloud Series A valuation$1.1B (18 months old)Companies & Missions MentionedSpaceX · Artemis II / NASA · Rocket Lab · Planet Labs · Apex · Hadrian · The Exploration Company · Star Cloud · Lone Star Data Holdings · Blue Origin (TeraWave) · Google (Project Suncatcher) · xAI · StarlinkPeople MentionedReed Wiseman — Artemis II CommanderVictor Glover — Artemis II Pilot; first Black person to travel to the moonChristina Koch — First woman to travel to the moonJeremy Hansen — First Canadian to travel this far from EarthJared Isaacman — NASA AdministratorElon Musk — SpaceX / xAI / XChad Anderson — Founder, Space CapitalQuotes Worth Sharing"SpaceX didn't just build a business. It rewrote what was possible.""The interplanetary story is no longer confined to Elon Musk's conference slide decks. It's in regulatory filings. It's in rocket test programs. It's in the hiring plans of hundreds of companies.""The gap between what the stories promised and what actually happened at times felt like a wound. But now I look at what's actually happening and I find myself genuinely surprised."Follow the Show🎙️ SEA of Startups — Real. Raw. Relatable. YouTube | TikTok | Instagram This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

Most AI content gives you a framework. Tiwa York gives you a verdict.The founder who built Kaidee to 35 million users and guided it to a successful exit sat down with SEA of Startups and said what most operators are afraid to say out loud: your team is probably performing AI adoption, not doing it. And the longer you stay there, the harder it gets to move.Here’s what he actually said — the numbers, the examples, the provocations.The 5 Levels of AI Maturity (And Why 1.5 Is a Trap)Tiwa’s framework runs from 0 to 4. Most conversations stop at listing the levels. The more important conversation is why so many companies get stuck halfway through Level 1.Level 0 — Unaware: No AI tools in use. Working like it’s 2019.Level 1 — Curious: ChatGPT is bookmarked. It gets used for emails and translation. Actual work output: unchanged.Level 1.5 — The Trap: This is where Tiwa spends most of his time on stage. A few people are experimenting. Strategy decks mention AI. But workflows, decisions, and output haven’t moved. He calls this adoption theater — and it’s where the majority of SEA companies currently sit.Level 2 — Active: AI is genuinely built into daily work. Measurable productivity gains of 25–50%.Level 3 — Integrated: Multiple AI tools connected in smooth workflows. The data analyst goes from one report a week to one a day. The PM tests ideas overnight with simulated customers. 2–3x productivity — and completely redesigned ways of working.Level 4 — Transformative: Creating value streams that simply didn’t exist before. Tiwa estimates this is roughly 2% of the global workforce today.The goal isn’t to inch from 1.5 to 2. It’s to move from 1.5 to 3, and then to 4. Anything less is rearranging deck chairs.The Mental Model That Changes EverythingTiwa’s most useful reframe isn’t a framework — it’s a metaphor.Think of AI as the most capable but most forgetful intern you’ve ever hired. It can do almost anything better than any employee on your team. But the moment it leaves a conversation, it remembers nothing. Zero context. Starting from scratch.This metaphor matters because it tells you exactly what your job is: you’re not a user of AI. You’re a systems designer for AI. Your task is building the handoff infrastructure — the context-carrying mechanisms, the memory systems, the structured prompts — that prevent that amnesia from killing your output quality.Tiwa draws a direct parallel to the Toyota Production System. You’re not optimising one conversation. You’re building a manufacturing process for intelligence, with daily standups, continuous improvement loops, and institutional memory that compounds over time.Most companies treat AI like a vending machine. High performers treat it like a factory floor.The Numbers That Should Stop You Mid-SentenceIf you think the efficiency gap between good and great AI usage is somewhere between 20–30%, Tiwa has a number for you.The difference between a 30% productivity gain and a 300x productivity gain isn’t the model you’re using. It’s how you’re using it.That’s not a typo. 300x. The delta between someone using AI as a faster search engine and someone who has built genuine fluency — with context management, iteration discipline, and system-level thinking — is not incremental. It’s categorical.On token economics specifically, Kevin cited Jensen Huang’s framing directly: a developer earning $500K annually should be spending roughly $250K a year in AI tokens. That’s the ratio of a high-performance AI-native engineer. For context: serious power users are already spending $500+/month on tokens. Some AI-native startups are at $1,000 per person per day.If your developers aren’t asking for AI budget, Tiwa’s take is unambiguous: that’s a performance issue.The Hiring Freeze Argument (And Why It’s Not Crazy)The most provocative position Tiwa took in the recording:Freeze all hiring until your AI implementation is complete.The reasoning is mathematical. Communication pathways explode non-linearly with headcount:* 5 people → 10 pathways* 10 people → 45 pathways* 20 people → 190 pathwaysEvery person you add before you’ve stabilised your AI workflows creates coordination overhead that compounds. You’re layering human complexity on top of unresolved process complexity. The problems don’t add — they multiply.The implication for most early-stage SEA founders: your instinct to hire for growth may be the thing slowing your growth. A team of 6 people who are genuinely at Level 3 will outrun a team of 15 people stuck at Level 1.5, every time.The Middleware Trap: A Warning for BuildersTiwa is an investor. He’s pattern-matching on where value will be captured — and where it will evaporate.His verdict on horizontal and middleware AI companies: 18-month obsolescence risk. The major frontier models are absorbing middleware functionality as a matter of course. If your moat is sitting between the model and the enterprise, that’s a shrinking gap.The defensible positions he sees in SEA:* Vertical solutions with deep workflow integration and hard-to-replicate domain understanding* Regulated, complex legacy environments where switching costs are real and proprietary data is locked in* Physical AI — Tiwa cited MUI Robotics, which has deployed an AI tongue (taste and smell sensors) across dairy companies, water utilities, and hotel renovation monitoring, and is currently running a research project on early liver cancer detection through smell. 300+ clients. 50+ multinationals. That’s not a middleware play.The common thread: proprietary data, physical integration, or regulatory complexity. If you can be replaced by a model update, you’re not building a business — you’re building a feature.Two Real Examples, Not Hypothetical OnesThe Jira/Confluence Replacement: A software development house replaced its entire project management stack — Jira, Confluence, the lot — in four days using AI-assisted development. Annual savings: $24,000. More importantly, they own the system now. No vendor dependency. No per-seat pricing. No waiting for a roadmap that doesn’t match their workflow.The HubSpot Replacement: A friend of Tiwa’s replaced their entire HubSpot instance with a custom-built CRM in eight hours of AI-assisted coding. Eight hours. The off-the-shelf tool cost thousands annually and didn’t fit the workflow. The custom solution does — and it cost a weekend.The pattern here isn’t “build vs. buy.” It’s “stop buying things that make you dependent when you could own the thing in a day.”What AI-First Actually Requires From LeadershipTiwa’s framework for leaders isn’t about tool selection. It’s about accountability architecture.The key shifts:Every function owns its own transformation. This can’t live with the CTO alone. Engineering, product, marketing, finance, customer success — every team lead is responsible for their own AI integration roadmap.Model the behaviour publicly. If leadership isn’t visibly using AI — and visibly failing with it, learning from it, sharing what they found — no one else will take the cultural signal seriously.Measure outcomes, not activity. Logins aren’t fluency. Licenses aren’t execution. The metrics that matter: workflow velocity, decision speed, output quality. Not hours of AI training completed.Daily continuous improvement. Not a quarterly AI review. A daily standup cadence for what’s working, what broke, what gets refined tomorrow. Toyota didn’t build the production system in a sprint. Neither will you.The Real QuestionTiwa closed with the line that stayed with everyone in the room.“The question isn’t how do we find extraordinary people. It’s whether extraordinary people get unleashed inside this org — or leave to do it on their own.”For founders in SEA: you probably already have the talent. The judgment is in the building. The only variable is whether you build the systems that let it operate at full power — or whether you stay at Level 1.5 long enough that the people who figured it out first come back to compete with you.Watch the full conversation with Tiwa York on SEA of Startups This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

In the ever-changing landscape of technology and business, the term “SaaSpocalypse” has emerged to describe the recent downturn in public software stocks. But what does this mean for the future of SaaS companies, especially in Southeast Asia? In this blog post, we’ll explore the nuances of the SaaSpocalypse, the potential for growth amidst disruption, and what established and emerging companies can do to adapt.Understanding the SaaSpocalypseThe term SaaSpocalypse refers to the recent significant decline in the valuations of publicly traded SaaS companies. This decline has raised concerns about the future viability of these companies. But is the doom and gloom justified?The Current Landscape- Valuation Adjustments: Many SaaS companies have seen their valuations drop sharply, leading to discussions about overvaluation in the sector. As Chris Birrell notes, some of these companies were indeed due for a correction.- Growth Continues: Despite the downturn, many SaaS companies are still experiencing growth rates of 15-20% year-over-year, which, although lower than previous highs, indicates resilience in the market.Key Insight: The SaaS market is not dying; it’s evolving. Companies that can adapt to new technologies, especially AI, may find new opportunities for growth.The Role of AI in SaaSAI is a game-changer for many industries, and SaaS is no exception. As the demand for AI integration grows, traditional SaaS companies must adapt.Embracing AI Technologies- Increased Demand for AI Solutions: Companies are under pressure to integrate AI into their workflows. This presents both a challenge and an opportunity for incumbents who can leverage their existing customer relationships to offer new, AI-driven solutions.- The Risk of Disruption: While established companies may have a strong foothold, they are not immune to disruption. New entrants who can offer innovative solutions may quickly gain traction.Example: Companies like Salesforce are well-positioned to sell AI-driven solutions, thanks to their existing customer base and established workflows.Navigating Change: Strategies for SaaS CompaniesAs the industry evolves, SaaS companies in Southeast Asia must consider their strategies carefully. Here are a few key areas to focus on:Focus on Core Competencies- **Defensible Moats**: Companies with deep integrations into their clients’ workflows are better positioned to weather market fluctuations. Understanding what makes your service indispensable can help you maintain customer loyalty.- **Avoiding the Surface-Level Solutions**: Companies that offer point solutions without deep integration risk losing market share to more comprehensive platforms.Capitalizing on Regional NuancesSoutheast Asia is a unique market, and understanding local dynamics can provide a competitive edge.- Local Expertise: Companies with founders who understand regional challenges are likely to succeed where larger, global firms may falter. This localized approach can help companies tailor their solutions to meet specific market needs.The Future of SaaS in Southeast AsiaLooking ahead, what does the future hold for SaaS companies in Southeast Asia?Opportunities Amidst Challenges- Emerging Startups: As Chris mentions, startups that can build reusable software components tailored for AI-driven environments may find success. There’s a growing need for specialized solutions that can integrate seamlessly with existing workflows.- BPO Evolution: Business Process Outsourcing (BPO) companies are also on the brink of transformation. By leveraging AI, they can enhance their service offerings and improve efficiency, setting the stage for a new era in service delivery.Conclusion: Adapting for SuccessIn conclusion, while the SaaSpocalypse presents challenges, it also opens up avenues for growth and innovation. Companies that can adapt to the changing landscape—embracing AI, focusing on core competencies, and understanding regional market nuances—will be well-positioned to thrive in the future.Key Takeaways:- The SaaSpocalypse is not the end, but a transition. - Embrace AI and focus on integration to maintain your market position. - Understand regional dynamics to tailor your solutions for success.---Frequently Asked QuestionsWhat is the SaaSpocalypse?The SaaSpocalypse refers to the significant decline in valuations of publicly traded SaaS companies, raising concerns about the future of the industry.How can SaaS companies adapt to the changing landscape?By integrating AI solutions, focusing on their core competencies, and understanding regional market dynamics, SaaS companies can navigate the challenges ahead.Is the SaaS industry dying?No, the SaaS industry is evolving. Companies that can innovate and adapt will continue to thrive. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

KeywordsMeta, Manus, acquisition, Singapore, AI, geopolitics, startups, tech industry, business growth, investmentSummaryIn this conversation, Kevin and Kim discuss Meta's recent acquisition of Manus, a Singapore-based startup, exploring its implications for founders in the region, the geopolitical landscape, and the evolving nature of AI in business. They analyze the rapid growth of Manus, the significance of Singapore as a tech hub, and the challenges posed by regulatory scrutiny. The discussion highlights the potential for Southeast Asia to emerge as a key player in the global tech ecosystem, while also addressing the complexities of company nationality and the future of AI amidst geopolitical tensions.TakeawaysMeta's acquisition of Manus raises questions about the future of startups in Southeast Asia.The deal signifies a shift in how tech companies navigate geopolitical landscapes.Manus's rapid growth showcases the potential for startups in the region.Acquisitions are not just about money; they often buy time and talent.AI is changing the valuation landscape for tech companies.Singapore is becoming a strategic hub for tech companies looking to scale globally.The concept of 'Singapore washing' raises important questions about company nationality.Geopolitical tensions could impact future tech acquisitions.The success of Manus could inspire more founders in Southeast Asia.Southeast Asia has the potential to be a significant player in the global tech ecosystem.TitlesMeta's Bold Move: What It Means for FoundersNavigating Geopolitics in Tech AcquisitionsSound bites"They just bought time.""Does it really matter? Not really.""Singapore is the neutral zone."Chapters00:00 The AI Landscape and Major Players02:45 Geopolitical Implications of AI Investments05:53 The Role of Singapore in the Global Tech Ecosystem08:54 The Evolution of AI and Market Dynamics11:54 Regulatory Challenges and Market Valuations14:17 The Future of AI and Founders' Perspectives18:01 Navigating Nationality and Compliance in Tech20:45 The Balance of Speed and Long-term Value Creation This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

SummaryIn this conversation, Kevin and Kim discuss the recent merger of Elon Musk's companies, particularly focusing on the implications of combining AI and space technologies. They explore the potential of data centers in space, the evolving role of Tesla, and the regulatory challenges that come with these advancements. The discussion also touches on the future of sovereignty in space and the messy landscape of regulations that may arise as private companies take a more significant role in space exploration.TakeawaysElon Musk is merging his companies to simplify operations.The merger signifies a shift towards a unified intelligence layer.Data centers in space could revolutionize computing.Tesla's role is evolving beyond just electric vehicles.Regulatory challenges will complicate space exploration.Sovereignty in space is a complex issue.The landscape of space regulations is becoming messy.Private companies will play a crucial role in space.Non-terrestrial data centers are on the horizon.The future of AI is tied to its infrastructure location.TitlesThe End of the Discrete Company EraMerging AI and Space: A New FrontierSound bites"AI just got X'd.""Tesla isn't an EV company anymore.""It's going to be messy."Chapters00:00 The End of the Discrete Company Era02:07 The Merging of Tech Giants05:48 Data Centers in Space: A New Frontier09:53 The Unified Intelligence Layer14:56 The Future of AI and Space Exploration20:05 Regulatory Challenges in Space24:54 The Wild West of Space Law29:55 The Dawn of a New Era This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

Heyyyy guys,🧠 TL;DR — What Actually Changed* SGX × NASDAQ dual listing is a real regulatory breakthrough — but U.S. liquidity remains unproven* The fintech “funding collapse” was actually capital consolidation into Singapore* Southeast Asia is shifting from emerging → maturing, with real scaffolding for a capital stack* Founders + investors have a 24-month window before this becomes table stakesThe Setup: Why This Moment MattersSGX and NASDAQ just launched a dual-listing bridge — something Southeast Asia’s growth-stage founders have wanted for a decade.But here’s the twist:This isn’t about IPO convenience.It’s about Singapore silently building its own version of Silicon Valley’s capital stack — adapted for Southeast Asia’s geopolitical reality.And it’s happening while the rest of the ecosystem is still parsing the headline.We are at an inflection point,but not for the reasons most people think.1. SGX × NASDAQ Dual ListingReal Liquidity or Ego Liquidity?**What It IsA streamlined structure allowing ~$2.5B+ companies to list simultaneously on SGX and NASDAQ without:* duplicate filings* conflicting disclosures* multi-jurisdictional legal chaosA real regulatory achievement.What Everyone Assumes“Finally! A viable U.S. exit path for Southeast Asia tech.”What It Actually IsA partial solution — with one massive unanswered question:Does this create real U.S. liquidity, or just better press releases?Regulatory friction? Solved.Liquidity, analyst coverage, and market-making? Not solved.Let’s be blunt:* Who in New York is covering a $3B ASEAN B2B SaaS they’ve never used?* Who is trading your stock at 2 a.m. EST?* How do you compete for attention against trillion-dollar tickers?In Singapore, you matter.In the U.S., you are… a symbol on a screen.Who Wins (Right Now)?* SGX — they can pitch “NASDAQ access” to the entire region* Founders — they gain optionality and cleaner paperworkWill U.S. liquidity appear?TBD.Yes, AvePoint dual-listed in 2025 — but one data point does not equal a trend.2. The Fintech Funding ‘Collapse’ That Wasn’tIf you only saw the headline:“SEA fintech funding down 39% YoY.”You missed the real story:Singapore captured 84–88% of all fintech dollars.Capital didn’t disappear — it moved to safety.The Numbers* $829M raised (SEA fintech, first 9 months of 2025)* Singapore → 84% (with multiple quarters at 88%)* Mega rounds continued quietly:* Thunes — $150M Series D* Airwallex — $150M Series FThis isn’t contraction. It’s radical selectivity.When markets tighten, capital flies to clarity.In Southeast Asia, clarity has a postal code — Singapore.The Nuance No One MentionsMany “Singapore rounds” are Singapore TopCos with operations elsewhere.But even adjusting for that, the trend is undeniable:Singapore is becoming the gravitational center of SEAs capital stack.If You’re Building Outside Singapore…You need a Singapore strategy now, not “when we hit Series B.”* Entity structure* Regulatory setup* Investor relationships* Capital accessYou cannot retrofit a cap table at scale.If You’re a Seed Investor…Your job just became extremely difficult.You must identify the 10–15% of founders who:* can reach late stage* understand jurisdiction strategy* can navigate regulatory complexity* know how to design an intelligent capital stackMost seed funds will not do this.The ones who do will win disproportionately.3. From Emerging → MatureIs Southeast Asia Finally Growing Up?**Silicon Valley is built on a simple assumption:Build → Scale → Exit on NASDAQ.Because the infrastructure exists.Southeast Asia has never had that luxury.Grab went to NASDAQ.Sea went to NYSE.No major regional champion listed on SGX — because the liquidity + coverage didn’t justify it.What’s Shifting Now?Singapore is positioning itself as the region’s public-market on-ramp:* SGX × NASDAQ dual listing* Extreme fintech capital concentration* Temasek + GIC reallocating toward deep tech and infrastructure* Robust IP protection* $28B RIE2025 deep-tech planTo become a mature ecosystem, you need:* A complete capital stackSeed → A → Growth → Pre-IPO → Public markets* Exit pathways that convertNot theory — execution.* Signaling mechanismsReal wins → real returns → capital recycling.We’re not fully there.But for the first time, the scaffolding is real.4. The Implicit Geopolitical SubtextU.S.–China decoupling has reshaped global capital flows.China still owns ~75% of Asia biotech funding…but diversification is accelerating fast.And Singapore is playing its hand masterfully- clever and very typical.Singapore is now:* Neutral* Globally aligned* Legally predictable* Highly trustedSignals:* Biotech capital shifting to Singapore & South Korea* Flagship Partnering × A*STAR: $100M deep-tech commitment* Talent and IP migrating to strong-jurisdiction hubsThis isn’t incremental.It’s a generational repositioning. (See it now?)5. What Founders Should Actually Do(Immediately)**1. Five-Decision AuditLabel your last 5 decisions: Offense or Defense.If you’re 4–1 defensive, you’re playing not to lose.2. Entity Structure ReviewMake your TopCo dual-listing ready:clean cap table → clean governance → clean audit trail.3. Live Capability Target ListEvery month, update your list of 10 companies/tech you may:Acquire → Partner → Replicate.4. Board Transformation AgendaShift board meetings from quarterly KPIs → 3–5 year capability maps.This is how category-defining companies build.6. What Investors Should DoLate-Stage InvestorsDual listing optionality changes your entire underwriting model:* valuation ceilings shift* secondary liquidity widens* crossover investor interest increases* exit horizons changeAudit portfolio readiness now.This advantage won’t last long.Seed InvestorsYour edge becomes:jurisdiction strategy + regulatory guidance + capital stack architecture.This is no longer “nice-to-have.”It’s competitive advantage.7. The 24-Month WindowHere’s the uncomfortable truth:The founders and investors who move now will define the next decade.Infrastructure windows don’t stay open:* SGX is motivated today* NASDAQ is paying attention today* Capital is concentrating today* Regulations are flexible todayIn 3–5 years?This either becomes table stakes —or a missed opportunity we’ll reference for a generation.8. The Question Southeast Asia Has Been Asking WrongFor years the ecosystem asked:“Can Southeast Asia produce the next Google?”Wrong question.The real one is:“Can Southeast Asia build systems that consistently produce category-defining companies?”For the first time, the answer is trending toward yes — cautiously, but convincingly.Not because of one unicorn.But because the infrastructure is finally being built.* dual listing bridge* capital consolidation* sovereign repositioning* regulatory maturity* talent density* deep-tech investmentTogether, they form the early blueprint of a Southeast Asian capital stack.Purpose-built for this region.Not imported.Before You GoThis year stretched us — in the best way.We decoded:* orbital compute* fintech infrastructure* regional capital flows* AI rails* cross-border regulationA pattern emerged:Southeast Asia isn’t catching up.It’s reshaping itself.We’re taking a short break — a reset, a recalibration (maybe even one day off our phones… maybe).But 2026?We’re coming back with the founders building the next layer of infrastructure — the kind that defines decades.Stay curious.Stay ambitious.Keep building.The ecosystem is leveling up.All we need now is you.— Kim & KevinSEA of StartupsSGX NASDAQ dual listing, Singapore capital markets, Singapore fintech funding 2025, Southeast Asia IPO pathways, SEA startup ecosystem, Singapore dual listing strategy, capital stack Southeast Asia, NASDAQ Asian companies, Singapore startup hub, venture capital SEA, fintech Singapore trends, deep tech Singapore RIE2025, Singapore TopCo structure, regional tech IPO strategy, Southeast Asia exits, liquidity Singapore market, Singapore economic strategy This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

THIS WEEK'S REALITY CHECKGoogle just published research that makes every data center in Southeast Asia look obsolete.Project Suncatcher: Space-based AI data centers hitting cost parity with terrestrial operations by 2035. Launch costs dropped from $10,000 to $1,500 per kilogram. SpaceX is targeting $200/kg.This isn't science fiction. It's a $100 billion economic shift happening right now—and Southeast Asia has exactly 24-36 months to position itself as the ground station hub or watch the value flow elsewhere.This episode breaks down why orbital compute is inevitable, what it means for AI and agriculture in the region, and the moves founders need to make before the infrastructure moats lock in.WHAT WE COVER🚀 The Economics That Just FlippedLaunch costs: $10K → $1.5K per kg (and falling to $200/kg by 2035)Why Google's betting on orbital over terrestrial8x more solar efficiency + free cooling in vacuum of spaceHow SpaceX made the impossible economically viable☀️ Project Suncatcher BreakdownWhat Google's actually building (and why now)Technical challenges: maintenance, thermal radiation, data latencyWhy StarCloud just launched NVIDIA-powered mini data center into orbitThe radiation hardening problem (and how it's getting solved)🌾 The $400B Agriculture Angle Nobody's ConnectingHow satellite-based Earth observation transforms Southeast Asian farmingThailand could gain $8-12B annually from precision agricultureReal-time insights: soil health, planting windows, pest predictionWhy AcerX raised $30M+ to build this infrastructure now🏗️ Infrastructure Gets Its God's-Eye ViewMining companies using orbital imaging for mineral explorationUtilities gaining real-time grid monitoring capabilitiesWhy Southeast Asia's equatorial position = massive strategic advantageGround station networks as the next critical infrastructure moat💰 Who's Building What (And Who's Getting Funded)AcerX (Singapore): $30M+ for satellite data platformsOne Orbit: $12M for environmental monitoringLunaSat (Malaysia): Affordable small satellite manufacturingPlanet Labs: $500M raised, largest Earth observation constellation⏰ The 24-36 Month WindowWhy regional coordination matters right nowWhat happens when infrastructure moats lock inFive tactical moves for AI, agriculture, and infrastructure foundersPolicy frameworks that need to exist yesterdayKEY QUOTES"While Malaysia debates water usage for data centers and Singapore worries about electricity grids, Google's preparing to bypass all of it with orbital compute." - Kim"Southeast Asia is either positioning itself as the ground station hub for the orbital economy, or it's watching $100 billion in economic value flow elsewhere." - Kevin"Agriculture in this region is a $400 billion industry that's been fundamentally inefficient for centuries. Space-based analytics running in orbit and beaming down real-time insights changes everything." - Kim"The window for Southeast Asia to position itself in this ecosystem is 24-36 months. After that, the players are locked in and we're customers, not builders." - Kevin"I have to give credit where it's due: Elon Musk basically came in and inspired everyone to look at space as economically viable. Nobody was thinking about private sector space before SpaceX." - KevinFEATURED DATA POINTS🚀 Launch cost trajectory: $10,000/kg (2005) → $1,500/kg (2025) → $200/kg target (2035)☀️ Solar collection efficiency: 8x more productive in space than terrestrial panels💰 Economic opportunity: $100B+ potential GDP contribution to Southeast Asia🌾 SEA agriculture market: $400B annually📊 Thailand agriculture gains: $8-12B potential annual productivity increase⚡ Power advantage: Constant solar (if positioned in dawn-dusk synchronous orbit)❄️ Cooling advantage: Thermal radiation in vacuum = no water consumption💸 Funding activity:AcerX: $30M+ raised (Singapore satellite data platforms)One Orbit: $12M raised (environmental monitoring)Planet Labs: $500M raised (largest Earth observation constellation)⏱️ Latency advantage: 1-7ms orbital (vs 150ms trans-Pacific)🛰️ StarCloud: NVIDIA-powered orbital data center launched November 2025TACTICAL TAKEAWAYS FOR FOUNDERSIf you're building AI:Map which workloads could migrate to orbital compute (training jobs especially)30-40% cost reduction potential on frontier model trainingBuild relationships with space tech companies now (AcerX, One Orbit)Factor orbital into your Series B infrastructure assumptionsIf you're in agriculture:Pilot satellite data integration immediately (don't wait for perfect tech)Partner with companies deploying Earth observation analyticsOperational knowledge compounds—5-year head start mattersThailand, Vietnam, Indonesia = massive precision agriculture TAMIf you're infrastructure/utilities:Real-time satellite analytics for grid monitoring, pipeline integrityGround station partnerships should be strategic priorityAsset tracking, disaster resilience, environmental complianceGovernment engagement needed now for spectrum/site allocationFor all founders:Don't assume compute stays terrestrial foreverEngage policy conversations on orbital infrastructure earlyBuild optionality: not all-in on space, but not ignoring itThe companies learning to operationalize space-based insights now win in 2030For VCs:Space tech is no longer government-only domainLaunch costs dropped to venture-backable levelsRegional companies competing against Silicon Valley with 1/10th the capitalGround station infrastructure = strategic moat worth backingRESOURCES MENTIONED📄 Google X: Project Suncatcher Research Paper📄 SpaceX Launch Cost Analysis 2025📄 Southeast Asia Agriculture Market Report📄 Singapore Space Agency: Industry Updates📄 StarCloud: NVIDIA Orbital Data Center Launch Announcement📄 Planet Labs: Southeast Asia Partnership Programs📄 AcerX: Satellite Data Platform for SEA Supply Chains📄 One Orbit: Environmental Monitoring Constellation📄 Malaysia LunaSat: Small Satellite ManufacturingCOMPANIES TO WATCHBuilding in Southeast Asia:AcerX (Singapore): $30M+ raised, satellite data platforms for supply chains & agricultureOne Orbit: $12M raised, AI-powered environmental monitoring constellationLunaSat (Malaysia): Affordable small satellite manufacturing for regional deploymentGlobal Players Seeking SEA Partnerships:Planet Labs: $500M raised, largest Earth observation network, actively seeking SEA partnershipsStarCloud: Just launched NVIDIA-powered orbital data center (Nov 2025)SpaceX: Targeting $200/kg launch costs by 2030Blue Origin: Ramping up commercial launch operations🔗 CONNECT WITH US📧 Newsletter: https://seaofstartups.substack.com💼 LinkedIn:Kim (WeiiSyuen) Yeoh: https://www.linkedin.com/in/weiisyuenyeohacmacgma/Kevin Brockland: https://www.linkedin.com/in/kbrockland/🎧 Listen:Spotify: [Link]Apple Podcasts: [Link]YouTube: [Link]💬 Comment below: Is your five-year plan accounting for orbital compute? Or are you assuming infrastructure stays terrestrial forever?TAGSspace tech, orbital computing, Google Project Suncatcher, AI data centers, SpaceX, satellite technology, Southeast Asia startups, agriculture technology, precision farming, infrastructure innovation, venture capital, deep tech, AcerX Singapore, space industry, renewable energy, AI infrastructure, LEO satellites, Earth observation, ground station networks, digital infrastructure, ELon Musk, Steve Jobs WHAT'S NEXTNext episode: Interviewing the CEO of a solar company that just IPO'd—directly relevant to space-based power infrastructure discussion.Upcoming: More deep dives on infrastructure shifts reshaping Southeast Asia's tech ecosystem.📌 PIN THIS: If you're building in AI, agriculture, logistics, or infrastructure in Southeast Asia, this episode is required listening. The decisions made in the next 24-36 months determine who participates vs. spectates in the $100B orbital economy.Share this with:Founders building deep tech or AI infrastructureVCs evaluating space tech investment opportunitiesGovernment officials planning digital infrastructure policyAnyone who thinks data centers will stay on Earth forever⚡ VIRAL SHARE QUOTE:"Southeast Asia has 24-36 months to position itself as the ground station hub for orbital compute—or watch $100 billion in economic value get built elsewhere while we're still debating cooling systems." This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

Episode Title: 400% Returns vs S&P: The 6 M&A Habits Turning Acquisitions Into Capability MachinesTHIS WEEK'S REALITY CHECKCompanies that transform while they transact are delivering 400%+ returns vs the S&P 500 over the last decade.That's not incremental. That's a different category of value creation entirely.Deloitte just mapped how they do it: Six habits that separate transformational acquirers from traditional ones. Grab mastered 5 out of 6. Most Southeast Asian corporates? Still haven't shown up to the fight.This episode breaks down the playbook—and why Southeast Asia keeps getting M&A backwards.WHAT WE COVER📊 The Numbers That MatterWhy 400% outperformance isn't a fluke—it's a patternHow transformational M&A differs from traditional sequential approachesWhy most Southeast Asian corporates are still using outdated playbooks🎯 The Six Habits of Transformational AcquirersLeadership Mandate: C-suite strategy, not finance functionAlways-On Portfolio: Capability P&Ls, not just revenue P&LsTransform As You Transact: Concurrent, not sequentialAI at the Core: Business model shift, not cost optimizationPower in Collaboration: Ecosystem plays, not solo executionWorkforce for Tomorrow: People as bedrock, not afterthought🏢 Southeast Asia Case StudiesGrab: Programmatic capability stacking (but still not profitable)PropertyGuru: Pre-SPAC ecosystem building that attracted $1.1B private take-outDBS Bank: The 27,000-person tech company that happens to do banking🤖 The AI M&A FutureHow AI changes targeting, diligence, integration, and synergy captureWhy build vs buy calculus is shifting (and M&A volume will increase)The vibe coding question and what it means for Southeast Asia⏰ The 24-Month WindowWhy the next 2 years determine the next decadeWhat founders should do this quarterWhy most local corporates will still get it wrongKEY QUOTES"If your M&A strategy is still 'integrate first, transform later,' you're bringing a butter knife to a lightsaber fight." - Kevin"Dead weight kills optionality. And Southeast Asian corporates are carrying a LOT of dead weight." - Kimberley"You're not buying revenue. You're buying capabilities. You're not integrating headcount. You're integrating ecosystems." - Kevin"Grab didn't succeed because they had the best technology. They succeeded because they built teams that understood Jakarta differently than Singapore." - Kimberley"The companies that move in the next 24 months will define the next decade. The ones that wait will watch the window close." - KevinFEATURED DATA POINTS📈 Transformational M&A returns: 400%+ vs S&P 500 (over 10 years) 📊 Deloitte report: Six habits of transformational acquirers 🏢 Grab acquisitions: Kudo, Bento, GrabInvest, Jaya Grocer, digital bank license 💰 PropertyGuru exit: $1.1B private take-out by EQT (2024) 🏦 DBS workforce: 27,000 people (tech company that does banking) ⏱️ Traditional integration timeline: 18+ months ⚡ AI-enabled integration: Near real-time synergy capture 📉 SEA M&A volume: Historically low, ticking up slowly 🎯 Timeline prediction: 3-5 years for local corporates to adopt programmatic M&ATACTICAL TAKEAWAYSFor Founders:Five Decision Audit: Label last 5 strategic calls as defense vs offense. Rebalance if skewed.Live Capability Target List: 10 companies/partners/tech you could buy/partner/replicate. Refresh monthly.Board Agenda: Put transformation on board agenda with 3-5 year capability map.For Corporates:Treat M&A as C-suite strategy, not finance functionBuild capability P&Ls, not just revenue P&LsStart transformation pre-deal, not post-integrationEmbed AI at the core of M&A processBuild corp dev function if you don't have oneFor Investors:Track which companies are stacking capabilities vs chasing revenuePrioritize teams that understand ecosystem playsWatch for AI-enabled M&A processes as competitive advantageRESOURCES MENTIONED📄 Deloitte Transformational M&A ReportSHOW NOTES (DETAILED TIMESTAMPS)[00:00] Cold open: The gut check every SEA founder needs [01:01] The 400% number: Why transformational M&A outperforms [01:30] Six practices from Deloitte's new playbook [02:32] Old M&A vs transformational M&A: What actually changed [04:38] Southeast Asia receipts: Grab, PropertyGuru, DBS [08:21] PropertyGuru's capability thesis pre-SPAC [09:48] DBS masterclass: 27,000-person tech company [11:39] The build vs buy calculus is shifting [13:57] Vibe coding and what it means for M&A in SEA [17:12] Deloitte's six habits breakdown begins [18:30] Always-on portfolio: Capability P&Ls vs revenue P&Ls [21:20] Will startups still want to be acquired? [24:09] AI at the core: Not cost-out, business model shift [25:17] Power in collaboration: Why SEA is designed for this [27:34] The next 3-5 years: M&A volume predictions [28:52] AI-enabled M&A: Targeting, diligence, integration [31:05] Programmatic M&A: Will SEA corporates adopt it? [33:31] Catalyst analysis: What drives M&A volume increase [34:44] Family businesses and relationship-based economies [36:01] Why corporates keep losing: Bad tech experiences [37:12] Three reps to build your transformation muscle This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

THIS WEEK'S REALITY CHECKThe 47th ASEAN Summit just wrapped in Kuala Lumpur. Trump was there. China's Premier showed up. Everyone talked about integration.Meanwhile, the smartest founders in Southeast Asia are betting on something completely different: That the chaos isn't a bug—it's the entire competitive moat.This episode unpacks why ASEAN's fragmentation might be its biggest strategic advantage, and what founders need to do in the next 24 months before the window closes.WHAT WE COVER🌏 The ASEAN Integration ParadoxWhy 58 years of "working toward unity" might be missing the pointThe middle child syndrome: Too big to ignore, too fragmented to dominateWhy EU-style integration would probably destroy what makes SEA interesting💰 Why Silicon Valley Keeps Failing HereGoogle, Uber, Amazon—the graveyard of Western tech in Southeast AsiaHow Grab succeeded where Uber failed (hint: it's not just execution)The competitive moat that only local players understand🎯 The Strategic Non-Alignment PlaybookMalaysia's simultaneous partnerships with China, UK, and U.S.Singapore's multi-ecosystem strategyHow to become the Switzerland of the tech cold war🏙️ The Tier One City ThesisWhy KL has more in common with Bangkok than with Alor SetarHow to think about regional expansion without waiting for perfect alignmentThe borderless team concept that actually works⏰ The 24-Month WindowWhy the next 2 years determine the next 2 decadesWhat happens when ecosystems lock inFive tactical moves that separate exits from shutdownsKEY QUOTES"What looks like chaos is just Southeast Asia building its own operating system." - Kevin"Grab took 12 years to navigate 11 different regulatory systems. That's not a bug. That's the training ground that creates anti-fragile companies." - Kimberly"The tier one cities have more in common with each other than they do with tier two cities in their own countries." - Kevin"Strategic non-alignment isn't fence-sitting. It's positioning yourself as the translator when two superpowers don't speak the same language." - KimberlyFEATURED DATA POINTS🌏 ASEAN population: 680 million people (3rd largest market globally) 💰 Combined GDP: $4+ trillion 📊 ASEAN age: 58 years old (middle-aged in geopolitical terms) 🚀 Grab market presence: 12 years across 8 countries 🏢 SEA Group: 10+ years building in fragmented markets 🏛️ Number of ASEAN regulatory systems: 11 different frameworks 💳 Payment structures: 10+ different systems across regionTACTICAL TAKEAWAYS FOR FOUNDERSIf you're fundraising:Default to regional thinking from day onePlan for 24-30 month runways (not 18)Map policy advantages across markets systematicallyIf you're scaling:Build borderless teams with deep local knowledgeStudy government priorities in each marketEngage regulators as partners, not obstaclesIf you're entering SEA:Don't wait for perfect alignment—it's never comingFocus on tier one cities firstBuild for fragmentation, not uniformityRESOURCES MENTIONED📄 47th ASEAN Summit Outcomes (May 2025) 📄 Malaysia-US Trade Agreement Details 📄 ASEAN Digital Economy Framework 📄 Startup ASEAN Summit Agenda🔗 CONNECT WITH US:💼 LinkedIn: Kim Yeoh and Kevin Brockland 📧 Newsletter:https://seaofstartups.substack.com/ALSO ON: Apple Podcast and Youtube TAGS:ASEAN, Southeast Asia, startups, venture capital, regional expansion, fragmentation, competitive strategy, market entry, emerging markets, Grab, SEA Group, government relations, cross-border business, tech ecosystem, strategic partnerships This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

Your grandmother probably thinks AI is just fancy autocomplete. Your investors think it’s the next industrial revolution. Both might be right. And that’s exactly the problem.Welcome to the most expensive game of musical chairs in human history.In October 2025, OpenAI—the company that made you question whether your job is safe—signed roughly $1 trillion worth of deals. Not over decades. Not in theoretical future value. One trillion dollars in commitments that locked together the biggest names in tech like a high-stakes game of Twister.Nvidia committed up to $100 billion to OpenAI’s data centers. AMD followed with tens of billions more. Oracle inked a $300 billion cloud contract. Each company took equity stakes in OpenAI while simultaneously becoming its customer and supplier.It’s beautiful. It’s terrifying. And if you’re building anything in Southeast Asia, it’s about to force your hand.The Flywheel That Might Break the WorldHere’s what’s actually happening beneath the surface of those press releases.OpenAI needs computing power—not just a lot, but an almost incomprehensible amount. We’re talking 20 gigawatts worth of data centers. That’s the output of 20 nuclear reactors, running continuously, just to train the next generation of AI models.They can’t pay for this upfront. So they’ve structured deals where chipmakers like Nvidia essentially finance OpenAI’s infrastructure in exchange for guaranteed orders. Nvidia’s money buys data centers filled with... Nvidia chips. Which OpenAI uses to train AI models. Which drives demand for more Nvidia chips. Which justifies Nvidia’s stock price. Which gives Nvidia more currency (in the form of valuable equity) to invest in... OpenAI.See the loop?Now multiply this across AMD, Oracle, Microsoft, and a web of cloud providers and startups. Everyone is simultaneously the investor, the customer, and the supplier. Capital flows in a perfect circle, each deal reinforcing the next, each rising stock price validating the previous bet.This is either the most sophisticated value-creation flywheel ever constructed, or it’s vendor financing on steroids.The Cisco Parallel Nobody Wants to Talk AboutIf you’re over 35, you remember what happened to Cisco Systems.Late 1990s. Internet boom. Cisco was the arms dealer of the dot-com gold rush—selling routers and networking equipment to every startup that raised venture capital. Their stock went parabolic. They briefly became the most valuable company on Earth.Then came the vendor financing strategy. Cisco would invest in or loan money to internet companies... so those companies could turn around and buy Cisco equipment. Revenue exploded. Wall Street cheered. Cisco executives became billionaires.Until the music stopped.When the dot-com bubble burst in 2000, Cisco discovered that a huge chunk of their “revenue” was actually just their own money cycling through customer companies. Those customers went bankrupt. Cisco’s stock dropped 90%. The playbook that seemed genius became the textbook example of bubble economics.Nvidia’s $100 billion stake in OpenAI looks uncomfortably similar.Is this time different? Maybe. AI is real in a way many dot-com businesses weren’t. ChatGPT has 200 million users. Companies are deploying AI in actual workflows, not just buying vaporware.But here’s the uncomfortable question: How much of AI’s current growth is real demand versus artificially inflated demand created by these circular financing arrangements?Why This Matters for Southeast Asia (And Why You Have Less Time Than You Think)While this trillion-dollar poker game plays out in Silicon Valley and Shenzhen, Southeast Asia is being forced to make a choice it didn’t ask for.Do we join this ecosystem on whatever terms we can get? Or do we try to build our own capabilities knowing we’re years behind?The honest answer: We need to do both. And we have maybe 24 months before the window closes.Here’s why the timeline is so tight.Right now, these mega-deals are still being structured. Standards are still fluid. The technology stack is still evolving. There’s room for regional players to position themselves as integration layers, deployment partners, or specialized service providers.But once these circular deals lock in—once Nvidia’s chips only work seamlessly with Microsoft’s cloud which only optimizes for OpenAI’s models—the interoperability window slams shut. You’re either inside the ecosystem or permanently outside it.And if you’re outside? Good luck competing when your opponent has access to computing power you can’t afford, AI models you can’t replicate, and partnership networks you can’t penetrate.This is the new digital divide, and it’s being drawn right now.The Robot Revolution Nobody’s Pricing InIf the AI investment loop was just about software and cloud services, we could debate whether it’s sustainable. But there’s a second wave coming that changes everything: embodied AI.Translation: Robots with AI brains, walking around in the physical world.July 2025. Shanghai. World Artificial Intelligence Conference. Over 150 humanoid robots on display. Chinese companies selling working humanoids for $16,000. Some models as low as $5,900.Morgan Stanley just published research projecting the humanoid robotics market could hit $5 trillion in annual revenue by 2050. That’s twice the size of the global automotive industry.Let that sink in. We’re not talking about science fiction or distant futures. We’re talking about a trillion-dollar manufacturing ecosystem that needs to get built in the next 10-15 years.And Southeast Asia has a real shot at being a major player—but only if we move now.Why China Is Winning the Robot Race (And What We Can Learn)Here’s the uncomfortable geopolitical truth: China is currently best-positioned to dominate “embodied AI.”Not because they have the best AI research (though they’re closing the gap fast). But because they’ve cracked three things that matter more than pure technology:1. Manufacturing ecosystem at scale. China can produce robots cheaper and faster than anyone else. Their supply chains for motors, sensors, batteries, and materials are unmatched.2. Guaranteed internal demand. Chinese state-owned enterprises will buy domestic robots as a matter of policy. That gives Chinese robotics companies a market to refine their products before going global.3. Strategic patience combined with tactical speed. Beijing identified robotics as a national priority years ago. They’re playing a 20-year game with 6-month sprints.Meanwhile, American robotics CEOs went to Congress in 2025 literally begging for a national strategy, warning that without coordinated policy and investment, the U.S. will lose both the robotics race and, by extension, the AI race.The robots are where AI’s economic value gets captured. If you lose robots, you lose AI.Where does that leave Southeast Asia?The Strategic Non-Alignment PlaybookHere’s the move: Southeast Asia should become the Switzerland of the AI-robotics cold war.Not in the sense of being neutral and boring. In the sense of being the place where East meets West, where interoperability gets figured out, where multiple tech ecosystems coexist and connect.Malaysia is already doing this. They signed AI cooperation agreements with China while simultaneously licensing chip design technology from UK-based Arm and partnering with U.S. firms on industrial automation. They’re building relationships on all sides while developing domestic capability so they’re not completely dependent on anyone.Singapore is even more sophisticated. They use Chinese robotics for some infrastructure, Western AI for financial services, and invest heavily in their own research. They’re building genuine optionality.This isn’t fence-sitting. It’s strategic positioning.Because here’s what most people miss: The company or country that can integrate Chinese hardware with Western software with local applications becomes incredibly valuable. You’re the translator in a world where two superpowers speak different languages.But this only works if you have actual capability, not just diplomatic skill. You need engineers who understand both ecosystems. You need companies that can deploy and maintain robots regardless of where they’re manufactured. You need software that works across platforms.Building that takes time. Hence: 24 months.What Founders Should Actually Do This QuarterEnough strategy. Let’s get tactical.If you’re a founder or operator in Southeast Asia right now, here are five moves that matter:1. Pilot robots now, even if they’re imperfect.Don’t wait for mature technology. If you’re in manufacturing, logistics, or warehousing, start testing robot deployment today. The companies that learn how to integrate robots with human workflows now will have compounding advantages by 2030.The cost of being five years behind in operational knowledge will vastly exceed the cost of adopting imperfect technology today.2. Build the integration layer, not the hardware.Unless you’re exceptionally well-funded, don’t try to compete with Chinese firms on robot hardware or Western firms on foundational AI. Instead, build the software and services that make those technologies useful in Southeast Asian contexts.A robot designed for a Japanese factory doesn’t automatically work in an Indonesian palm oil plantation. Someone needs to adapt it. That someone could be you.3. Make your pitch anti-fragile.If you’re fundraising, assume it will take twice as long as you think and that 80% of pitches will fail. That’s not pessimism—that’s the new baseline.Series A deal volume is down 18%, dollars deployed down 23%, and median fundraising timeline has stretched to 20+ months. Build your financial model assuming you need 24-30 months of runway, not 18.4. Get specific about your AI story—or drop it entirely.VCs are getting sophisticated about AI-washing. If you claim to be an AI company, you’ll get grilled on model architecture, training data, and inference costs. If you can’t defend those claims technically, don’t make them.Better to be a great logistics company that happens to use AI than a mediocre AI company trying to find a use case.5. Map your stakeholder ecosystem before scaling.For every market you want to enter, identify the regulators, incumbent players, and local partners who will determine whether you can actually deploy. Then engage them early.In Southeast Asia, your ability to navigate complex stakeholder dynamics is often more important than pure technological superiority.The Bet You’re Making Whether You Realize It or NotEvery founder right now is making an implicit bet about the future—even if you’re trying to avoid making a bet.If you’re building in AI or robotics, you’re betting that this wave is real, that the investment will eventually find profitable returns, and that there’s room for new players despite the trillion-dollar incumbents.If you’re staying away from AI entirely, you’re betting that the hype will deflate, that most AI companies will fail, and that there will be opportunities in the aftermath for more traditional businesses.Both bets carry risk. But only one bet has upside if you’re wrong.If you bet on AI and it turns out to be overhyped, you’ve still built capabilities in cutting-edge technology. You can pivot. You’ve learned. You have optionality.If you bet against AI and it turns out to be transformative, you’ve built capabilities in a world that no longer exists. You’re starting from zero.This is why the smartest founders I know aren’t asking “Is this a bubble?” They’re asking: “How do I build something that has value regardless of whether this is a bubble?”The answer? Focus ruthlessly on unit economics, real customer problems, and sustainable business models. Use AI as a tool, not a story. Build partnerships that give you leverage, not vendor relationships that make you disposable.And move fast—because in 24 months, the rules of this game will be set in stone.The Uncomfortable Truth About TimingWe’re at an inflection point that happens maybe twice in a generation.The last comparable moment was probably the late 1990s with the internet, or the late 2000s with mobile. Decisions made in the next 2-3 years will shape the next 2-3 decades.The leverage available to individual founders, operators, and investors right now is enormous. But you have to be willing to grab it.That means accepting uncertainty as the baseline condition. That means making decisions with incomplete information. That means being wrong sometimes and adjusting fast.The biggest mistake isn’t picking the wrong technology or the wrong market. The biggest mistake is paralysis—waiting for perfect information that will never come, watching the window close while you’re still analyzing.Southeast Asia has a genuine shot at being a major player in the AI-robotics revolution. But only if we’re willing to act while the rules are still being written.The trillion-dollar flywheel is spinning. The robot factories are being built. The investment decisions are being made.You can shape this, or you can watch it happen to you. But you can’t do both.What’s it going to be?Kim Yeoh is co-host of Sea of Startups and writes about technology, strategy, and building in Southeast Asia. Kevin Brockland is her co-host and occasional voice of reason. They’re both trying to figure this out in real-time, just like you.Subscribe to Sea of Startups for weekly insights that won’t make you dumber: 🎧 Spotify | Apple Podcasts | YouTube💬 What’s your take? Are we in a bubble, a revolution, or both? Comments are open.DISCLAIMER: All views expressed are personal opinions and do not represent any organizations mentioned. Content is for informational and entertainment purposes only and should not be considered professional, investment, or legal advice. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

When Regulators Win: What Singapore's Robotaxi Rollout Reveals About the Future of Deep TechWhile Silicon Valley's AV companies fought regulators and burned billions, Singapore just orchestrated the future of transportation. WeRide partnered with Grab. Pony.ai partnered with ComfortDelGro. Both launching in 2025.This isn't just about self-driving cars. It's about how deep tech scales when you work WITH regulators instead of against them.Meanwhile, Series A funding collapsed 23% year-over-year. Fundraising timelines stretched to 3.5 years for many companies. The easy money era is over.This episode connects autonomous vehicles, strategic partnerships, and the brutal fundraising reality of 2025. If you're building deep tech or raising in Southeast Asia, this is required listening.WHAT WE COVER🚗 The Singapore AV StrategyWhy WeRide + Grab partnership changes everythingWhat Pony.ai brings to ComfortDelGroHow Singapore's Land Transport Authority orchestrates (not just approves) innovation💸 The Series A ApocalypseFunding down 23%, deal volume down 18%Median time Seed→Series A: 20 months (but 3.5 years for many)Hot sectors vs cold sectors: Where money is actually flowing🎯 Strategic Partnerships vs Solo ExecutionThe question every deep tech founder must askWhy being a vendor means you have no leverageHow to become a strategic partner instead🔥 The AI Hype Reality CheckWhat investors actually ask about AI startupsHow to tell if you're AI-washing your pitchWhen to force the AI angle (hint: never)📊 What's Actually Working in 2025The death of triple-triple-double-double-double5 things Southeast Asia founders must internalizeWhy government backing is your fastest path to scaleIn This Episode:[00:00] Intro: Continuing from climate tech and policy dynamics [02:01] WeRide + Grab and Pony.ai + ComfortDelGro partnerships in Singapore [05:22] US vs Singapore AV playbook: Chaos vs orchestration [10:13] Why Punggol is the perfect testbed for autonomous vehicles [15:16] Building trust through strategic partnerships and familiar brands [18:24] The fundraising apocalypse: Series A down 23%[22:06] Hot vs cold sectors: What's actually getting funded in 2025 [25:12] The death of triple-triple-double-double growth expectations [27:24] Why Southeast Asia needed this correction[31:52] Practical advice: Extended runway planning for founders💡 KEY TAKEAWAYS:✅ Strategic partnerships > solo execution in deep tech✅ Series A funding is down 23% YoY—plan for 2x longer fundraising timelines ✅ If you're a vendor, you have no leverage. Be a strategic partner. ✅ Singapore's government-orchestrated approach scales faster than Silicon Valley's chaos ✅ Extended runway (24-30 months) isn't optional—it's survival📊 FEATURED DATA POINTS & SOURCES :📉 Series A dollars deployed: Down 23% YoY 📉 Series A deal volume: Down 18% YoY ⏱️ Median Seed→Series A time: 20 months (up to 3.5 years for many) 🚗 WeRide autonomous driving: 50M+ kilometres 🚗 Waymo 2024 rides: 4M+ rides, 96M projected miles by mid-2025 🇸🇬 Pony.ai-ComfortDelGro MoU: July 2024 🇸🇬 Grab Ai.R launch: September 2025SOURCES: Grab Singapore press release (Sept 2025) Pony.ai investor relations announcements (Sept 2025)Land Transport Authority AV trial dataCarta Series A market reportWaymo operational metricsFOR FOUNDERS LISTENINGIf you're fundraising right now:Plan for timelines 2x longer than you thinkRaise 24-30 months runway, not 18Have burn reduction plan BEFORE you need itIf you're building deep tech:Identify established players who need youPosition as strategic partner, not vendorWork WITH regulators, not around themIf you're in Southeast Asia:Stop copying Silicon Valley playbooksGovernment isn't your enemy—it's your accelerantBuild for the market you're actually in🎙️ ABOUT SEA OF STARTUPS:Sea of Startups is your weekly reality check for building in Southeast Asia. Hosted by Kimberly Yeoh and Kevin Brockland, we cover what's actually happening in the ecosystem—no fluff, no hype, just the truth about fundraising, regulation, and what it takes to build here.🔗 CONNECT WITH US:💼 LinkedIn: Kimberly Yeohhttps://www.linkedin.com/in/weiisyuenyeohacmacgma/ | Kevin Brockland:https://www.linkedin.com/in/kbrockland/📧 Newsletter: https://seaofstartups.substack.com 📌 MENTIONED IN THIS EPISODE:WeRide (autonomous vehicle technology)Grab (Southeast Asia ride-hailing)Pony.ai (Chinese AV company)ComfortDelGro (Singapore transportation)Waymo (Google's AV division)Cruise (GM's AV company - shut down SF operations)Land Transport Authority SingaporeCarta (startup cap table platform)🏷️ TAGS:#AutonomousVehicles #Singapore #StartupFunding #SeriesA #SoutheastAsia #VentureCapital #Waymo #Grab #WeRide #PonyAI #DeepTech #AIStartups #FundraisingTips #StartupStrategy #TechInvestment #SmartCities #Robotaxi #ComfortDelGro #LandTransportAuthority #SEAStartups💬 JOIN THE CONVERSATION:What are you seeing in your market? Are strategic partnerships the new playbook, or are you still going solo? Drop a comment below.Subscribe for weekly insights on building in Southeast Asia 👇⚠️ DISCLAIMER:All views expressed are personal opinions and do not represent any organizations mentioned. This content is for informational purposes only and should not be considered investment advice. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

Your battery just died. Not your phone—your entire business model. This week on Sea of Startups, we're diving into why most climate tech fails within months in Southeast Asia, how tropical conditions are a torture chamber for hardware, and why the smartest founders are turning brutal constraints into billion-dollar competitive advantages. Plus: Why Chinese AV companies are playing a completely different game in Singapore, and fresh Series A data that might make you cry into your pitch deck (but also why this might be the best time to build).What You'll Learn:Why 90% of battery technologies fail in tropical conditions and what to do about itThe four frameworks climate tech founders need to survive Southeast Asia's regulatory mazeHow software-defined adaptation is beating hardware brute forceWhy Singapore's autonomous vehicle strategy looks nothing like Silicon Valley's approachThe brutal truth about Series A fundraising in 2025Featured Topics:Tropical Batteries Report 2025 from Malaysia's SEDA and CiceroClimate tech hardware survival strategiesEnergy policy challenges across Southeast Asia marketsAutonomous vehicle partnerships in Singapore (Pony.ai, WeRide)Series A fundraising reality check with Carta dataTimestamps: 00:00 - Introduction: Heat, Hype, and Hard Truths 01:15 - The Adapter That Couldn't Adapt 05:30 - Tropical Batteries Report 2025: Why Hardware Dies in SEA 09:45 - Three Engineering Strategies (And Why Software Wins) 15:20 - The Policy Problem: When Regulators Block Innovation22:40 - Four Frameworks for Climate Tech Survival 28:48 - Segment Transition: From Climate Heat to AV HypeKey Quotes:"Southeast Asia isn't just a market. It's a torture chamber for hardware.""If your adapter can't survive Southeast Asia, neither can your startup.""Don't think of tropical conditions as a constraint. Think of them as a feature.""The real competitive advantage isn't having the best technology. It's having technology that regulators understand, incumbents can partner with, and customers can actually deploy."Resources Mentioned:Tropical Batteries Report 2025 (SEDA Malaysia & Cicero)Malaysia's Sustainable Energy Development Authority (SEDA)PTT, EGAT, Petronas, Pertamina energy programsShell LiveWire programHosts:Kimberley (Kim) Yeoh - @WeiiSyuenYeohKevin Brockland - @KevinBrocklandSEGMENT 1: TROPICAL CLIMATE TECH - THE TORTURE CHAMBER (00:00 - 28:48)The Core Problem: Most battery storage technologies were designed for temperate climates (Silicon Valley garages, German engineering labs), not Southeast Asia's brutal conditions:Daily temperatures: 35°C+ (surface temps hit 60°C on rooftops)Humidity: 90% for months at a timeSalt spray near coastsBiblical rain patternsThermal cycling causing mechanical stressReal-World Impact:Lithium-ion cells that should last 10 years only reach 60% of expected lifespanElectronic components corrode rapidlyHousing cracks from thermal cyclingWarranty claims sink company valuationsThe Report: Tropical Batteries Report 2025 from Malaysia's SEDA (Sustainable Energy Development Authority) and CSIRO provides the first comprehensive playbook for hardware founders building in tropical markets.https://www.csiro.au/en/research/technology-space/energy/Electricity-transition/Southeast-Asia/tropical-batteries-MalaysiaMalaysia's Context:Target: 70% renewable energy by 2050Battery storage is critical for grid stabilityBut current technologies aren't built for these conditionsThree Engineering Strategies:Engineer the Environment (Reactive)Active cooling systemsHeat-dissipating materialsSmarter packagingProblem: Adds cost and complexity without solving root causeDifferent Chemistry (Better, but limited)Sodium-ion batteries: Better heat tolerance, less energy denseIron-air batteries: Incredibly robust, slower charge/dischargeSand batteries: Trap and hold heat (Vietnam example)Problem: Still competing on manufacturing scale with Chinese giantsSoftware-Defined Adaptation (The Winner)Predictive thermal managementDynamic load balancingWeather-aware charge/discharge algorithmsAdvantage: Compete on intelligence, not manufacturing scaleStartup-friendly and defensibleThe Policy Elephant: Technology is only half the battle. Energy policy often works against startups:Thailand Example:Ambitious renewable goals on paperReality: Energy sector dominated by massive incumbentsPeer-to-peer energy trading technically feasible but legally grayResult: "Behind-the-meter" projects only (on-site consumption, can't scale to grid)The Structural Challenge:What works in Singapore doesn't work in IndonesiaWhat's legal in Malaysia might be restricted in VietnamDifferent regulatory approaches across 11 Southeast Asian marketsDifferent incumbent interests and political sensitivitiesFour Survival Frameworks:Framework 1: Environmental Design ThinkingDon't just stress test in labsGet into real tropical conditions ASAPPartner with universities in Malaysia, Indonesia, PhilippinesSet up test installations in actual field conditionsFail fast and cheap in R&D, not after scaling manufacturingFramework 2: Regulatory Arbitrage StrategyFind pockets where policy already supports your modelMalaysia: Feed-in tariffs and net metering policies support distributed solar + storageSingapore: Regulatory sandboxes for energy innovationStart there, prove model works, then expand to trickier marketsFramework 3: Stakeholder Ecosystem MappingMap key players for every target market: regulators, incumbent utilities, local partnersThailand: Partner with PTT or EGAT instead of disrupting themMalaysia: Work with PetronasIndonesia: Engage with PertaminaAll have CVC arms and innovation programs looking for partnershipsShell's LiveWire program operates across the regionFramework 4: Climate Adaptation as Competitive AdvantageDon't view tropical conditions as constraint—it's a featureIf hardware survives 35°C heat + 90% humidity, it works anywhereTropical market = Southeast Asia + huge chunks of Africa, Latin America, India, Middle EastTorture chamber produces the strongest survivorsThe Meta Lesson: Climate tech is a systems challenge, not just engineering:Building better batteries that work within political, regulatory, climate realitiesBuilding systems that intelligently adapt vs. brute-forcing solutionsBuilding partnerships with incumbents vs. declaring warBuilding for business model sustainability from day oneSmart Founder Strategy: Spend as much time in government ministries as in labs. Don't just build tech—help shape regulations that determine whether tech can scale. Become part of the policy conversation, not an obstacle to it.SEGMENT 2: AUTONOMOUS VEHICLES IN SINGAPORE (Teased at 28:48)The Setup: Chinese companies Pony.ai and WeRide launching autonomous shuttles in Punggol, Singapore. But their strategy looks nothing like Silicon Valley's "move fast and break things" approach.Key Insight Preview: They're playing a completely different game—and it might be genius. (Full segment to be covered in next episode)SEGMENT 3: SERIES A FUNDRAISING REALITY CHECK (Teased)What's Coming:Fresh data from CartaInsider commentary from VC circlesNumbers that might make you cry into your pitch deckWhy this might actually be the best time to build if you're smart about it(Full segment to be covered in next episode)ACTIONABLE TAKEAWAYSFor Climate Tech Founders: ✅ Test in real tropical conditions early—don't wait until post-manufacturing ✅ Consider software-defined adaptation over hardware brute force ✅ Map regulatory landscape before scaling—find friendly markets first ✅ Partner with incumbents rather than fighting them ✅ Position tropical durability as global competitive advantageFor Investors: ✅ Due diligence must include field testing in deployment environments ✅ Account for regulatory risk, not just technology risk ✅ Demand unit economics from day one, not just deployment numbers ✅ Evaluate founder's understanding of policy landscapeFor Corporate Executives: ✅ Partner with startups solving real problems, not pitching moonshots ✅ Ensure digital transformation infrastructure works in actual operating conditions ✅ Make strategic investments that support ecosystem resilienceCONNECT WITH USSubscribe to Sea of Startups: 🎧 Spotify: https://open.spotify.com/show/0k6pc3PvXDeSltPINsBkJy?si=abfb938374b64ca7 Apple Podcasts https://podcasts.apple.com/us/podcast/sea-of-startups/id1641090926 YouTube: https://www.youtube.com/@SEAofStartupsFollow the Hosts: 💼 Kim (WeiiSyuen Yeoh) on LinkedIn 💼 Kevin Brockland on LinkedInJoin the Conversation: Is your hardware actually tropical-ready, or did you just check a box on a spec sheet? Share your experiences in the comments.MENTIONED IN THIS EPISODEOrganizations:Malaysia's Sustainable Energy Development Authority (SEDA)CSIROPTT (Thailand)EGAT (Thailand)Petronas (Malaysia)Pertamina (Indonesia)Shell LiveWire programTopics:Tropical Batteries Report 2025Lithium-ion vs sodium-ion vs iron-air batteriesSand battery technology (Vietnam)Feed-in tariffs and net meteringBehind-the-meter projectsRegulatory sandboxesPeer-to-peer energy tradingUpcoming:Pony.ai and WeRide autonomous vehicle partnershipsSeries A fundraising with Carta dataSpecial guest on distributed energy (launching end of year)TAGS & KEYWORDS#ClimateTeч #TropicalBatteries #HardwareStartups #SoutheastAsiaStartups #RenewableEnergy #EnergyStorage #MalaysiaTech #BatteryTechnology #CleanEnergy #StartupStrategy #RegulatoryStrategy #EnergyPolicy #SEDA #TropicalConditions #SustainableTech #SEAofStartupsNext Episode Preview: We'll dive into why Chinese AV companies are taking a radically different approach in Singapore, plus the Series A data that's separating winners from cautionary tales. Stay tuned.Disclaimer: All views and opinions expressed are those of the hosts and do not represent any organizations mentioned. Content is for informational and entertainment purposes only and should not be considered professional, investment, or legal advice. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This conversation explores the messy middle of entrepreneurship through Ryan Ng’s unique journey of building YouDigital while leading APAC expansion at $12B unicorn Deel. We dive into cultural barriers holding back Southeast Asian professionals, the myth of work-life balance, and what it really takes to build something meaningful while maintaining financial stability.⏱️ Key Topics DiscussedThe Deel Experience (05:00–10:30)Inside the world’s largest remote companyScaling across ASEAN’s complex regulatory landscapeFrom LinkedIn’s “bullet train” to Deel’s “rocket ship”Managing 24/7 Slack notifications across time zonesThe Paiseh Problem (17:00–22:30)Southeast Asia’s cultural humility vs. global visibility requirementsWhy opportunities go to the most visible, not the best personThe cost of staying silent in today’s professional landscapeBreaking free from “let your work speak for itself” mentalityThe YouDigital Origin Story (20:00–27:00)The moment Ryan couldn’t not build somethingFrom LinkedIn DMs to TikTok content in Bahasa MalaysiaThe nine-month transformation of a bypassed professionalExpanding from Malaysia to inquiries from Botswana and SpainBuilding While Employed (27:00–35:00)Why Ryan didn’t quit his day job (and why that’s strategic)The unfair advantage of financial stability while buildingTransparency with managers and avoiding conflicts of interestChoosing harmony over balance: “Balance is a trap”Family Dynamics (35:00–47:00)Honest conversations with his wife about opportunity costsThe end of weekly “Fridates” and adjusted holiday schedulesRaising a three-year-old while juggling two demanding rolesWhen your toddler crashes Zoom calls with enterprise clientsThe Visibility Challenge (47:00–52:00)“You don’t have to be loud to be powerful”Leadership without a leadership titleThe infrastructure of professional development in Southeast AsiaCultural authenticity as competitive advantage💬 Memorable Quotes“The opportunities always go to not the best person but the person that’s most visible.”“You shouldn’t try to aim for balance, right? Try to aim for harmony instead, because balance is a trap.”“Hit that post button. Post something honest. Just post that being genuine and hit that button.”⚡ Rapid Fire InsightsBiggest fear holding back SEA professionals: Fear of being visible before feeling 100% readyMonthly question every professional should ask: “What do they want to be known for? And how are they showing up?”Key mindset shift for side project builders: Don’t be a perfectionist – be comfortable with uncertainties and different seasonsOne action to improve visibility this week: Hit publish on something honest and genuine🔗 Resources MentionedYouDigital → youdigital.asiaDeel → Global HR tech unicorn valued at $12BTikTok Content → Career advice in Bahasa MalaysiaSlush’D Penang → Where Kim and Ryan first connected👤 Connect with Ryan NgYouDigital → youdigital.asiaLinkedIn → Ryan Ng LinkedIn Profile📝 About Ryan NgRyan Ng is a Southeast Asian thought leader in career and personal branding, with over 18 years of experience spanning Canon, LinkedIn, Deel, and now YouDigital. Followed by more than 35,000 on TikTok and widely recognised for his thought leadership on LinkedIn, Ryan makes career insights relatable, practical, and actionable for today’s talent.Currently Founder & CEO of YouDigital, Ryan partners with universities, corporates, and government agencies to help students, founders, mid-careerists, and professionals build visibility and opportunity readiness. He also serves as an Adjunct Mentor at INTI, guiding design-thinking projects and mentoring the next generation of leaders.Previously at LinkedIn, Ryan led public sector workforce programmes across Malaysia, working alongside government agencies to shape employability and economic growth strategies. At Deel, the world’s fastest-growing HR tech startup, he drove regional expansion across ASEAN, advising multinationals on global hiring and compliance.Ryan has been a speaker at Slush’d Penang, AmCham, Taylor’s University, UiTM, MDEC, and TalentCorp events, and served as a panel judge for TalentCorp’s Life at Work Awards, underlining his commitment to strengthening Malaysia’s and ASEAN’s talent ecosystem.Through his work, Ryan believes in a simple truth: the best opportunities don’t always go to the most qualified — they go to the most visible. His mission is to ensure Southeast Asians are not just ready for opportunities, but noticed and chosen. In a world where AI can replicate skills, the one thing it can’t replace is your brand.🌊 SEA of Startups — Support & Stay Connected🙌 Support the ShowIf this episode made you rethink what “ecosystem building” really means:👉 Tap Follow on Spotify🔔 Turn on notifications so you never miss a new drop⭐ Leave us a 5-star rating & review📤 Share this episode with a founder or operator navigating cross-border challenges💬 Let’s ConnectKim Yeoh → LinkedInKevin Brockland → LinkedInNewsletter → Subscribe on Substack🌐 Follow us for more stories:Spotify → Follow SEA of StartupsLinkedIn → SEA of Startups LinkedIn PageSubstack → seaofstartups.substack.com🌊 SEA of Startups is where the region’s real startup stories live. No puff pieces. No fluff. Just what’s actually happening under the surface. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

"We went from the whole growth at all costs mentality to, can you actually make money? All within the span of about 18 months."Hey everyone, News flash- That's not some venture capitalist pontificating from a Palo Alto coffee shop. That's Kevin Brockland describing the most dramatic pendulum swing in tech history—happening right now, in Southeast Asia, while everyone else is still arguing about AI regulations.Here's the uncomfortable truth Silicon Valley doesn't want to admit: While they've been obsessing over who gets to build the next ChatGPT, SEA quietly solved the profitability problem. Not through another productivity hack or growth framework, but through something much more radical: growing the hell up.Forward this to anyone ready for the adult conversation about tech growth.The 18-Month Reckoning Nobody Saw ComingPicture this: You're hosting the ultimate tech house party. Microsoft, Amazon, Google all show up. But so do Tencent, Huawei, Alibaba. Everyone wants cheap land, low electricity, and proximity to Singapore's financial hub.Sounds perfect, right?Then reality crashes the party.Malaysia—capturing 60% of Southeast Asia's new data center capacity—suddenly realizes something Silicon Valley forgot decades ago: infinite growth meets finite resources. Water that keeps data centers cool is the same water Singapore needs to drink. Energy that powers AI training is the same energy families need for air conditioning.The result? Malaysia did something unthinkable in today's tech landscape: they pumped the brakes voluntarily.Not because they lacked demand. Not because they couldn't raise capital. But because sustainable growth beats breakneck expansion every single time.The $30 Million Reality CheckWhile Silicon Valley founders pitch "AI for everything" with hockey stick projections, Vietnam's FPT Corporation just signed a $30 million, multi-year AI transformation deal with one of Southeast Asia's largest industrial conglomerates.Not $30 million in potential future revenue. Not $30 million in theoretical market size. $30 million in actual, committed, pay-the-bills revenue.This isn't venture theater. This is what happens when you skip the "fake it till you make it" phase and jump straight to "build something people will actually pay for."The difference? FPT didn't try to revolutionize everything overnight. They proved value at each step, built capabilities layer by layer, and focused on problems that keep CFOs awake at night.The Death of Growth-at-All-Costs (And Why That's Actually Good News)Here's the data that should terrify every burn-rate optimized startup:* First half of 2024: Only 229 equity deals in SEA, totaling $1.85 billion* That's the weakest deal-making pace in over six years* Yet late-stage companies with strong fundamentals are still raising at good valuationsTranslation: The tourist capital left. The hot money chasing momentum disappeared. What remains is capital that actually understands the region and believes in building durable businesses.This isn't a bug. It's a feature.Remember the e-fisheries scandal that rocked the ecosystem? The alleged fraud at companies everyone thought were poster children for Southeast Asian innovation? That wasn't a market failure. That was the market working exactly as designed—punishing unsustainable models and rewarding authentic value creation.The B2B Revolution Nobody PredictedWhile consumer super apps burned billions chasing the next billion users, something interesting happened in the shadows: B2B services became profitable.Enterprise SaaS. AI transformation consulting. Cloud migration services. Digital infrastructure for traditional industries.All the "boring" stuff Silicon Valley VCs wouldn't touch because it didn't have hockey stick user growth? That's where the actual money was hiding.Vietnam's largest energy corporation didn't want a consumer app with millions of downloads. They wanted their factories to run more efficiently. FPT delivered that. For $256 million over five years.The Geopolitical Chess Game (Or: How to Win When Superpowers Fight)Here's where it gets interesting. While the US and China wage their trade war through semiconductor export bans and data center restrictions, Southeast Asia is playing a different game entirely.Chinese data center giant GDS Holdings spun off their overseas operations into "Day One"—literally starting fresh to avoid geopolitical pressure. Meanwhile, Thailand built their own Large Language Model called Typhoon, backed by one of the country's largest banks.Not copying OpenAI. Not licensing from Google. Building their own.This isn't East versus West. This is Southeast Asia writing its own playbook while everyone else fights over yesterday's rules.What This Means for Your Career (Whether You Realize It or Not)If you're entering the workforce without AI skills, you're already behind. Not because AI will replace you, but because someone who understands AI integration will replace you.If you're a startup founder still chasing vanity metrics instead of unit economics, you're playing a game that ended 18 months ago.If you're a corporate executive who thinks digital transformation is optional, your competitors are already signing $30 million deals with companies that figured it out.The fundamentals aren't changing. They're becoming the only thing that matters.The Millennial Startup EcosystemTwenty-something founders break things fast and iterate quickly. Thirty-something founders build things that last and scale sustainably.Southeast Asia just hit thirty.The region still wants to build great companies, attract investment, and drive innovation. But strategies have gotten smarter. More intentional. More resilient.This isn't about lowered ambitions. It's about grown-up ambitions that create solutions lasting longer than the next funding round.The Real Opportunity (That Everyone's Missing)While Silicon Valley debates AI safety regulations and China implements social credit systems, Southeast Asia is quietly building the infrastructure for sustainable tech growth.Climate tech. Energy tech. B2B services for traditional industries. AI transformation that actually transforms something.The companies winning aren't chasing Silicon Valley metrics. They're solving problems specific to their markets with technologies that work for their users.Malaysia's vetting committee for data centers isn't red tape. It's strategic thinking.Vietnam's methodical approach to AI isn't lack of ambition. It's sustainable execution.Thailand's Typhoon LLM isn't copying ChatGPT. It's competitive differentiation.Back to the Trust Equation … againInnovation isn't just about speed anymore. It's about trust—the invisible kind you feel before a term sheet gets signed.Easy money is gone. Hot takes won't save you. Growth hacking is dead.What remains is the hard work of building things people need, want, and will pay for. Repeatedly. Profitably. Sustainably.Southeast Asia learned this lesson in 18 brutal months. The rest of the world is about to follow.The future belongs to builders who embrace complexity rather than fight it. Whether you're ready or not.🎯 THE BOTTOM LINESoutheast Asia didn't slow down. It grew up. While others chase unicorn valuations, the region is building sustainable, profitable businesses that solve real problems for real money.The pendulum has swung from burn rates to profit rates. The tourist capital left. The hot money disappeared. What remains are companies that understand unit economics aren't optional—they're the entire game.This isn't a market correction. It's market maturation.See you in the next one! -Kim and Kevin 🔥 SUBSCRIBE & ENGAGEFound this valuable? Share it with that founder still explaining away negative unit economics.Want more insights like this? Subscribe to SEA of Startups on your preferred platform:🎧 Spotify | Apple Podcasts | YouTube💼 LinkedIn: Follow (Kim) WeiiSyuen Yeoh & Kevin BrocklandJoin the conversation: What are you seeing in your market—sustainable growth or hockey stick theater?📊 SEO KEYWORDSSoutheast Asia startups, AI transformation consulting, Malaysia data centers, Vietnam FPT Corporation, B2B services boom, startup profitability, venture capital SEA, sustainable growth, unit economics, digital transformationDisclaimer: All views shared are personal opinions and don't represent any organizations mentioned.What's your take? Are you seeing this shift toward sustainable growth in your market, or is everyone still chasing unicorn valuations? The comments section might be more honest than the quarterly reports.Share this if you know someone still burning cash and calling it growth strategy. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

The Trust Equation: Why Corporate VCs Aren't the Villain in Your Startup Story"One yes can open doors you didn't know existed. One no from the wrong person can kill dreams before they start." — Pavel Veselovsky, Corporate Venture StrategistHey everyone,Let's address the elephant in every founder's pitch deck.You know that moment when a corporate VC shows interest in your startup? That split second where you feel simultaneously validated and terrified? Like getting asked to prom by the most popular kid in school who also happens to be your biggest competition.Yeah, that feeling. We need to talk about it.🚀 Thanks for diving into SEA of Startups. If you're into raw convos, sharp takes, and real stories from Southeast Asia's startup trenches—Subscribe for free to get new drops straight to your inbox. No fluff. No FOMO. Just the good stuff.The Great Corporate VC MythologyHere's what every founder whispers at startup events:"Corporate money comes with strings attached." "They'll steal your idea and build it themselves." "It takes six months to get a decision, then they want to control everything."Sound familiar? I thought so.But here's the plot twist: Pavel Veselovsky, who's navigated both sides of this equation—from running PWC's venture programs to now advising startups across Southeast Asia—just shattered every assumption I had about this space.The numbers tell a different story than the horror stories:28% of all venture-backed companies globally now have at least one corporate investorSoutheast Asia is seeing explosive CVC activity, especially in ThailandYet 95% of founders are still operating on outdated Silicon Valley mythologyThe Real Game: One Yes vs One NoHere's the insight that stopped me cold during our Bangkok recording:Traditional VCs: You need ONE yes. One believer who writes the check. That's your path to success.Corporate VCs: You can have every executive saying yes, but ONE no from legal, cybersecurity, or procurement can kill everything.It's not about speed versus slowness. It's about offensive disruption versus defensive innovation. Two completely different games with completely different rules.Pavel put it perfectly: "Corporates can spend one year discussing which color the button should be."The irony? This "weakness" might actually be your startup's protection, not your threat.The Corporate Zombie PhenomenonWe discovered something I've never heard anyone discuss: corporate zombies.These aren't the walking dead. They're innovation projects that become impossible to kill even when they've clearly failed. Pavel explained it like this:"Sometimes it's easy to start funding an initiative, but it's harder to stop funding. We spent so much money on this for five years—it can't be easy to say it's not viable anymore."Think about that. While founders fear corporates will steal their ideas and execute them faster, the reality is most corporates struggle to execute anything quickly. They're often drowning in their own bureaucratic complexity.Your real competitive advantage isn't just your speed—it's your ability to pivot, kill projects that don't work, and start over. Corporates often can't.Why Southeast Asia Is Playing Chess While Silicon Valley Plays CheckersWhile everyone assumes Singapore is the only game in town, Thailand is quietly becoming a CVC powerhouse. And it's not copying anyone.The data Pavel shared from TechSauce Summit:K-Bank, SCBX, Krungsifineret: dozens of internal innovations in just one yearRetail giants like CP Group and Lotus: building their own innovation enginesEnergy companies like Big Rim and Banpoo: leading corporate innovationBut here's the kicker: Thailand built its own Large Language Model called Typhoon (backed by one of the country's largest banks). Not copying OpenAI. Not licensing from Google. Building their own.This isn't about East versus West. It's about integrated global innovation networks where the best ideas win, regardless of geography.The Five-Element Framework That Actually WorksWhen traditional VCs and corporate VCs co-invest (which happens more than you think), Pavel breaks down what makes it work into five elements:Strategy: Clear mission, vision, and alignment with leadershipPeople: Right hires with the right mindset and backgroundOrganization: Formal structure connecting to VC networksOperations: Processes, tools, decision-making mechanicsMetrics: Performance measurement and reportingIt's like competitive ballroom dancing. Both partners need the same vision, complementary skills, structured choreography, flawless execution, and a way to measure performance.When it works, it's electric. When it doesn't, everyone steps on each other's toes.The Authenticity AdvantageHere's what caught me off guard: the best corporate VCs aren't playing defense anymore. They're actively seeking disruption.Pavel's insight: "Most of the time, corporates are not capable to do the same because they can spend one year discussing which color the button should be. From my side, it's really a myth that corporates will easily hijack an idea."The real dynamic? If that corporate is investing, it's because they need what you have. You're not the weaker party—you're the solution to their innovation problem.The future belongs to founders who understand this shift and corporates who can move beyond zombie projects toward authentic partnerships.What Keeps You Up at Night?Here's my rapid-fire reality check for founders:Most underrated opportunity: Climate tech and energy tech in Southeast AsiaBest advice for corporate money: Find the right stakeholder (not the biggest checkbook)Hard truth: Good numbers aren't enough anymore. Good storytelling often beats good metrics.Five-year prediction: More major acquisitions where corporate investors played crucial early-stage roles. More Southeast Asian founders succeeding globally, not just regionally.The Real RevolutionThe AI startups are capturing 37% of all CVC-backed funding globally. Southeast Asia is following similar patterns, but with local twists—like Thailand's Typhoon LLM.The companies winning aren't chasing Silicon Valley metrics. They're solving problems specific to their markets with technologies that actually work for their users.🎧 Full deep dive conversation with Pavel Veselovsky drops today on Apple Podcasts, Spotify, YouTube, and Substack Audio.The Trust EquationInnovation isn't just about speed or strategy. It's about trust—the invisible kind you feel in a room before a term sheet gets signed.One yes can open doors you didn't know existed. One no from the wrong person can kill dreams before they start. That's the dance between corporates and startups.It's not always elegant, but when it works, it's electrifying.For founders: Your employees are already using AI tools in secret. Instead of fighting it, give them sanctioned tools that learn and improve.For corporates: Stop funding zombie projects. Start funding solutions to problems that keep you awake at night.For everyone else: Southeast Asia isn't copying anyone's playbook anymore. We're writing our own.The future belongs to builders who embrace complexity rather than fight it. Whether you're a founder considering corporate money or a corporate executive thinking venture strategy, the opportunity is massive—but only if you understand the actual game being played.What's your take? Are you seeing real collaboration between corporates and startups, or just expensive theater? The comments might be more honest than the quarterly reports.Next week: We're exploring how Southeast Asian fintech is quietly revolutionizing financial inclusion while everyone debates crypto regulations. Spoiler: the real innovation isn't happening where you think.Until then, maybe focus on building trust that lasts longer than the demo.— KimDisclaimer: All views shared are personal opinions and don't represent any organizations mentioned.If this hit different, share it with that one founder who's scared of corporate money or that exec who swears they understand startups.Share This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

🎙 EP 10: The $40 Billion AI Reality Check | MIT's Brutal Wake-Up Call on Enterprise AI's 95% Failure Rate🛰 Everyone's chasing AI transformation. 95% are just burning money.This week, Kevin Brockland and Kim Yeoh tear apart MIT's Project NANDA report — the most brutal reality check the AI industry has seen. Despite $30-40 billion in enterprise AI spending, 95% of companies have exactly zero ROI to show for it.No buzzwords, no consulting deck theater, just the uncomfortable truth about why most AI initiatives die in "pilot purgatory" while a shadow economy of employees quietly uses free tools anyway.Kevin is a tech investor and startup advisor focused on Southeast Asia's emerging markets. Kim is an ACMA, CGMA qualified finance professional turned startup ecosystem builder. Together, they've watched the AI hype cycle from the inside — and they're not buying the LinkedIn transformation posts.This episode is raw honesty about: How the "GenAI Divide" became wider than the Grand Canyon Why your expensive AI tools can't remember yesterday's feedback The beautiful rebellion of employees using ChatGPT in secret And what the 5% getting AI right actually do differently💡 What You'll LearnWhy 95% of AI projects are expensive screensavers that never leave pilot phase What MIT calls "the learning gap" — and why your AI has goldfish memory How 68% of workplace ChatGPT users are flying under corporate radar Why Southeast Asia's experimental culture beats Western AI ethics committees The difference between AI that demos well vs AI that delivers ROI Why augmentation > replacement for sustainable AI adoption🔎 Key TakeawaysThird-party AI tools have significantly higher success rates than in-house builds Back-office automation drives more ROI than sexy front-end applications Smaller companies dominate AI success because they lack bureaucratic friction The real opportunity lies in AI agents that learn your business context Southeast Asia's speed advantage could leapfrog Western AI adoption🧠 Sound Bites"It's like the Emperor's new AI clothes — all slides, no substance" "95% of AI projects are expensive screensavers tucked into the 'didn't work' folder" "Your 10X dev is now 100X, but the bottom tier hasn't changed at all" "People are reverting to ChatGPT because the enterprise tools don't fit their workflow" "We're performing AI transformation rather than actually doing it" "Easy money is gone, but the real money is just getting started"⏱ Chapters00:00 – Kevin's Radical Honesty: The AI Theater Performance 01:28 – MIT Drops the 95% Zero ROI Bombshell04:35 – Why Most Companies Are Just Pretending to Transform 06:59 – The Learning Gap: Why AI Has Amnesia 12:24 – Pilot Purgatory vs The 5% Success Club 18:51 – Third-Party vs In-House: The Failure Rate Divide 25:43 – Back-Office Gold Mine: Where Real ROI Lives 29:25 – The Shadow AI Economy: 68% Flying Under Radar 36:28 – Southeast Asia's Speed Advantage 43:00 – Tough Love for AI Startup Founders 46:32 – The GenAI Divide: Temporary or Permanent? 49:03 – What to Remember: Revolution is Real, Just Messier🙌 Support the ShowIf this reality check saved you from becoming part of the 95%: 👉 Tap "Follow" 🔔 Turn on notifications ⭐ Leave us a 5-star rating📤 Share this with someone stuck in pilot purgatory💬 Let's Connect🎙 Kim Yeoh → https://www.linkedin.com/in/weiisyuenyeohacmacgma/ 🎙 Kevin Brockland → https://www.linkedin.com/in/kbrockland/ 📬 Join 500+ founders & VCs reading our newsletter → Subscribe on Substack - https://seaofstartups.substack.com/🌊 SEA of Startups is where the region's real startup stories live. No puff pieces. No fluff. Just what's actually happening under the surface. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

🎙 EP 9a: You Can’t Copy-Paste Trust | Chi Chi Wong on Cross-Border VC, Founder Support, and Building the Human Infrastructure Behind Southeast Asia’s Startup Ecosystem🛰 Everyone’s chasing unicorns. Chi Chi Wong is building something rarer: real cross-border trust.This week, Kim Yeoh sits down with Chi Chi Wong — the one-man APAC ecosystem team at Huawei Cloud — to unpack what ecosystem building actually means in Southeast Asia. No buzzwords, no frameworks, just the human infrastructure that keeps startup bridges standing when MOUs fade and headlines shift.Chi Chi is the Ecosystem Lead for Huawei Cloud’s Startup and Developer Programs, driving initiatives across Asia-Pacific and beyond. With experience spanning New York University, Singapore military service, and a Master’s from Tsinghua University, he now works across governments, startups, VCs, incubators, and media to build a more resilient, inclusive tech ecosystem.This episode is a rare inside look into:How cultural fluency, emotional infrastructure, and patience matter more than pitch decksWhat Hong Kong founders keep missing about Southeast AsiaWhy 2AM founder calls beat demo-day soundbitesAnd what most “regional strategies” get dangerously wrong💡 What You’ll LearnWhy “Singapore ≠ Southeast Asia” — and what Hong Kong startups often get wrongWhat a 240:1 competition ratio in China teaches you about resilience and restraintHow Chi Chi reverse-engineered a Huawei job offer from a Tsinghua thesis interviewWhy trust travels slower than capital — but compounds harderThe difference between ecosystem optics and actual founder supportWhy showing up in hard times > big headlines🔎 Key Takeaways“Regional-first” strategies often fail without local presence and emotional bandwidthSoutheast Asia is not a monolith — scaling across cultures requires more than translationThe best ecosystem builders aren’t chasing visibility — they’re chasing reliabilityTrust is your true moat in Asia-Pacific’s fragmented, high-context markets🧠 Sound Bites“I wasn’t there to compete. I was there to connect.”“Most people try to stand out. I tried to disappear — and learn from the room.”“Southeast Asia isn’t one market. It’s hundreds. With real people, real pain points, and real pace.”“Ecosystem building is 2AM calls, not conference panels.”“The job came not because I pitched well, but because I listened better.”⏱ Chapters00:00 – Kevin’s Intro: Why Chi Chi Isn’t Your Typical Ecosystem Builder01:20 – Kim’s Welcome: From NYU to Tsinghua to Huawei04:45 – How a Thesis Turned into a Huawei Job Offer10:15 – What Most Founders Get Wrong About Scaling Regionally14:30 – Emotional Infrastructure > Regional Strategy PDFs19:10 – Founder Support at 2AM vs Demo Day Theater24:00 – Hong Kong’s Blind Spots in Southeast Asia29:30 – Why Local Trust Takes Time — But Outlasts Capital35:00 – Building Human Systems for the Long Game🙌 Support the ShowIf this episode made you rethink what “ecosystem building” really means:👉 Tap “Follow”🔔 Turn on notifications⭐ Leave us a 5-star rating📤 Share this with a founder struggling to scale cross-border💬 Let’s Connect🎙 Kim Yeoh → https://www.linkedin.com/in/weiisyuenyeohacmacgma/🎙 Kevin Brockland → https://www.linkedin.com/in/kbrockland/📬 Join 500+ founders & VCs reading our newsletter → Subscribe on Substack-https://seaofstartups.substack.com/🌊 SEA of Startups is where the region’s real startup stories live.No puff pieces. No fluff. Just what’s actually happening under the surface. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

Read up on our newsletter!🎙 Most VCs think ESG stories are too noble to fact-check. That's how you lose $600 million. — Kim Yeoh🛰 Southeast Asia's startup ecosystem just got a reality check that makes WeWork look like a rounding error. E-Fishery — Indonesia's sustainable aquaculture darling backed by SoftBank and Temasek — somehow turned $150 million in real revenue into $750 million on paper.This week, Kim and Kevin dissect how an entire investment ecosystem got so drunk on ESG narratives that apparently nobody thought to count the actual fish feeders.The truth? When trust breaks in relationship-driven markets, the damage spreads faster than a TikTok trend.💡 What You'll Learn Why ESG halos can blind even sophisticated investors — and how noble missions became get-out-of-jail-free cards for basic due diligence. How fabricated revenue scales exponentially — from 2x inflation to 5x fantasy, with receipts to match. Why Southeast Asia's trust networks amplify fraud damage — and how one scandal sets back an entire regional ecosystem. How institutional investors missed obvious red flags — when SoftBank and Temasek-level due diligence still isn't enough.🔎 Key Takeaways ESG stories aren't immune to fraud — sustainability missions require the same verification as any other business model. Regional trust damage compounds — unlike Silicon Valley's forgive-and-forget culture, broken trust in SEA stays broken. Due diligence can't be outsourced to lead investors — even big names get it spectacularly wrong. Authenticity is now a competitive advantage — in a world of fabricated metrics, radical transparency wins long-term.🧠 Sound Bites "Math that would make Elizabeth Holmes blush." "Apparently fraud has a universal playbook." "In Silicon Valley, Adam Neumann crashes WeWork and still raises another fund. In Southeast Asia? Once trust breaks, it's gone." "The most important business advice is also the most uncomfortable: verify, don't just trust." "While we're explaining why counting fish feeders should be standard due diligence, Silicon Valley is buying AI researchers for $1.5 billion."⏱ Chapters00:00 – The $600M Fish Farm Scandal Explained 08:15 – How ESG Stories Became Too Good to Question15:30 – When SoftBank and Temasek Miss the Red Flags 22:45 – Regional Trust Networks and Fraud Amplification 29:20 – The Silicon Valley vs SEA Redemption Gap 35:10 – Why Authenticity is the New Competitive Advantage 41:30 – Next Week Preview: Chi Chi Wong on Substance Over Spectacle🙌 Support the ShowIf this episode made you rethink your due diligence process: 👉 Tap "Follow" 🔔 Turn on notifications ⭐ Leave us a 5-star rating 📤 Share this episode with that investor friend who thinks big-name lead investors mean automatic credibility💬 Let's Connect 🎙 Kim Yeoh → https://www.linkedin.com/in/weiisyuenyeohacmacgma/ 🎙 Kevin Brockland → https://www.linkedin.com/in/kbrockland/ 📬 Join 500+ founders & VCs reading our newsletter → https://seaofstartups.substack.com/SEA of Startups is where the region's real startup stories live. No puff pieces. No fluff. Just what's actually happening under the surface. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

EP 7: The Enterprise Sales Reality Check You’ve Been Avoiding | The Enterprise Sales Playbook No One Talks About: Why Your Perfect Product Still Can't Close Corporate Deals in SEARead up on our newsletter!🎙 Most founders think enterprise sales is about having the best product. That’s adorable. — Axel Winter, former CTO Cisco APAC🛰 Enterprise sales in Southeast Asia isn’t a meritocracy.It’s a game of timing, politics, and trust — and if you don’t understand how the buying side really works, you’re setting yourself up for slow, expensive heartbreak.This week, Kevin sits down with Axel Winter — ex-CTO at Cisco, global IT strategy lead at Standard Chartered, and the man who built a 450-person startup inside Central Group — to unpack how big corporates actually choose their vendors.The truth? It’s not pretty. But it’s necessary.💡 What You’ll LearnWhy 63% of RFPs already have a winner before they even start — and how to make sure you’re not just filling up the compliance quota.How budget cycles can outweigh product features — and why December can be your best sales month of the year.Why your elevator pitch is make-or-break — and how to nail it in 30 seconds or less.How trust compounds differently in Southeast Asia’s relationship-driven markets — and why breaking it can cost you years.🔎 Key TakeawaysNot every RFP is worth chasing — qualify your effort based on your odds.Budget beats brilliance — know your buyer’s fiscal calendar better than your own.Trust > Tech — in Asia, your WhatsApp access might be worth more than your product roadmap.The default decision in enterprise is often no decision — learn to spot it early.🧠 Sound Bites“I haven’t been in any RFP where the outcome was totally open.”“December can save you 50% — if you know who’s desperate to spend.”“If you can’t explain your value between floors 1 and 3, you’re not ready for enterprise.”“In Asia, once trust breaks, it stays broken.”“Don’t just build features. Build relationships that outlast features.”⏱ Chapters00:00 – Why Most Founders Get Enterprise Sales Wrong07:45 – Axel’s Background: From Netscape to Cisco to Central Group12:20 – Defining “Legacy” from the Business Side16:50 – RFP Theatre and How to Play It Smart23:30 – Innovators vs Safe Choices in Corporate Buying28:40 – The Budget Cycle Advantage31:45 – The Make-or-Break Elevator Pitch35:00 – Relationship-Driven Markets in Southeast Asia🙌 Support the ShowIf this episode made you rethink your sales playbook:👉 Tap “Follow”🔔 Turn on notifications⭐ Leave us a 5-star rating📤 Share this episode with a founder stuck in RFP purgatory💬 Let’s Connect🎙 Kim Yeoh → https://www.linkedin.com/in/weiisyuenyeohacmacgma/🎙 Kevin Brockland → https://www.linkedin.com/in/kbrockland/📬 Join 500+ founders & VCs reading our newsletter →https://seaofstartups.substack.com/SEA of Startups is where the region’s real startup stories live.No puff pieces. No fluff. Just what’s actually happening under the surface. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

From Apps to Infrastructure: 3 Startup Shifts Rewiring Southeast AsiaRead up on our newsletter! https://seaofstartups.substack.com/🎙️ EP 6: The Invisible Unicorns: Why Southeast Asia's Biggest Startup Stories Are Happening Behind Your Phone Screen🛰 The next big story in Southeast Asia’s startup scene isn’t an app.It’s the infrastructure humming underneath.In this jam-packed episode, Kim Yeoh and Kevin Brockland unpack the quiet pivot happening across the region — from flashy B2C apps to the invisible rails powering how we travel, invest, and build.This isn’t a trend. It’s a tectonic shift.💡 What You’ll Learn:How Airalo became the world’s first eSIM unicorn—and why it’s not just a travel app, it’s global telco infrastructure.Why Arta Finance is building the AWS of private wealth—and how Singapore fits into their playbook.What Lovable’s “vibe coding” model tells us about the future of dev infra—and what it means for SEA founders.🔎 Key Takeaways:Infrastructure is the new battleground—and Southeast Asia is exporting it.The best startups don’t just build apps. They build rails.“Freemium” tools today could become tomorrow’s lock-in traps.Smart founders build optionality into their stack: rent wisely, own strategically.🧠 Sound Bites“From SIM cards to APIs—Southeast Asia isn’t just using infrastructure. It’s building it.”“If one platform powers every MVP, who’s really innovating?”“Selective independence is the name of the game. Build what you must, rent what you can.”“Infrastructure isn’t sexy—until it breaks. Then it’s everything.”“The next breakout isn’t another super app. It’s the rails they all run on.”“Don’t just scale fast. Scale smart. Own your margins.”⏱️ Chapters00:00 – Southeast Asia's Infrastructure Revolution12:29 – AI and Wealth Management Innovations23:13 – The Future of No-Code Development27:01 – The Rise of Vibe Coding29:23 – Democratizing Access to Technology32:20 – The Future of AI and Market Dynamics35:55 – Empowering the Next Generation of Entrepreneurs40:23 – Building for the Future: Infrastructure and Innovation42:16 – Exploring Infrastructure PlaysSubscribe to our newsletter: https://seaofstartups.substack.com/Partner with us → [email protected]🙌 Support the ShowIf this episode gave you something to think about:👉 Tap “Follow”🔔 Turn on notifications⭐ Leave us a 5-star rating📤 Share this episode with a founder or operator rethinking their stack💬 Let’s Connect🎙 Kim Yeoh →https://www.linkedin.com/in/weiisyuenyeohacmacgma/🎙 Kevin Brockland → https://www.linkedin.com/in/kbrockland/ 📬 Join 500+ founders & VCs reading our newsletter → https://seaofstartups.substack.com/SEA of Startups is where the region’s real startup stories live.No puff pieces. No fluff. Just what’s actually happening under the surface. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

🎙️ Episode TitlePhilippines Startup Shift with Joseph De Leon 📌 Episode Summary (100–150 words)In this episode, Joseph De Leon (JDL) shares strategic insights into the evolution of the Philippine startup ecosystem: why $5K angel checks still teach more than $5M rounds, how conservative capital is learning to take risks, and what separates founders who pitch beautifully from those who can actually execute. We unpack how the Manila Angel Investor Network was built from the ground up, common red flags in founder profiles, and what’s next in climate tech and AI. If you're building in Southeast Asia—or exploring where to place your next bet—this conversation blends grit, strategy, and real-world lessons from the trenches.🔑 Key TakeawaysWhy small bets matter: A $5,000 angel check often teaches more than flashy multi-million‑dollar rounds—in part because it surfaces execution risk early.Capital learning curve: Conservative investors in the Philippines are cautiously shifting toward higher-risk startup bets by getting closer to founders with measurable traction.Execution over charisma: Plenty of founders pitch beautifully, but real dollars flow to those who can ship and scale.Red flags that kill deals: “Airport‑test” personalities, grant-chasing founders, and ideas without real customer insight quickly turn seasoned investors away.Ambition is rising: Startups are transitioning from local lifestyle plays to globally-oriented scale businesses focused on climate-tech, AI, and human-centric platforms.Ecosystem leverage: Over half a billion dollars in institutional capital stands ready—if founders can meet the institutional investor readiness bar.🚀 Why You Should ListenGet candid insights from someone who’s built the largest active angel network in the Philippines.Understand how the region’s investment thesis is evolving, amid risk-averse capital, system friction, and emerging ambition drivers.Discover what early-stage founders often overlook—and what seasoned investors demand.👤 Guest & Host InfoGuest: Joseph De Leon (JDL) — Partner at Gravitas Prime, Director of Founder Institute Philippines, and founder of consulting practice Bullet Day. Built MAN, syndicated angel capital, and currently prepping Filipino startups for institutional scaling.Host: Kevin Brockland, CFA — Co‑host of SEA of Startups, focused on SEA capital flows and founder narratives.Co‑Host: Kimberley (Kim) Yeoh — Producer & Editor, known for sharp framing and narrative tone.🔑 SEO KeywordsPhilippine startup ecosystemAngel investing PhilippinesStartup execution vs pitchingClimate tech Southeast AsiaASEAN early‑stage foundersJoseph De Leon PhilippinesManila Angel Investor Network (MAN)Southeast Asia venture insights📎 Resources & LinksManila Angel Investor NetworkFounder Institute Philippines & Google Cloud partnershipBullet Day consultingKumu (startup referenced in episode)Related episode: SEA of Startups #4A – Infrastructure shift in Jakarta & Malaysia✅ Call to ActionIf you found the episode useful, rate and subscribe, and drop a review to help others discover it.Interested founders: email your 5-minute pitch deck to [email protected] wanting exposure to Philippine capital flows: book a chat at cal.com/bulletday.🎧 Link to full episode is at the top of this page—or check it in your favorite podcast app.📜 Transcript & QuotesFor accessibility and SEO, the full transcript is embedded below in an expandable section.Highlight quotes:“Sometimes a $5,000 check teaches you more than a $5 million one.”“Ambition without discipline isn’t brave. It’s just recklessness.” This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

“You can’t build AI without compute. And you can’t build trust with slogans.”— Kevin Brockland“Singapore can’t handle everything. It really can’t.”— Kimberley YeohHey everyone,Last week we talked cold hard cash, where it's flowing and why seed founders are getting squeezed while unicorns feast. This week? We're going deeper. Past the money, into the guts of what's actually getting built.Episode 4B is about the unsexy stuff that'll make or break SEA's next act: compute power, policy theater, and who gets to control the digital future.Let's start in Jakarta. There's a $2.3B hyperscale AI datacenter going up at breakneck speed. 144 megawatts of raw compute. Kevin calls it "a hyperscaler on steroids" — and honestly, that's not hyperbole. This thing is massive.But here's the thing about infrastructure — it doesn't exist in isolation. Which brings us to Malaysia's latest reinvention attempt. Fund-of-funds? Yep. VC tax breaks? Sure. ASEAN chair flex with a cross-border startup platform? Obviously.The playbook feels familiar. Kevin's not wrong when he says: "Same playbook, new name, new slogan... Let's just do more of the same."Look, I get the skepticism. Malaysia's had a few false starts. But I actually think there's something here worth watching. They're not trying to out-Singapore Singapore ,they're carving out their own lane. Intent matters. Execution matters more.The reality is this: if SEA wants to ride the next wave — AI, IoT, green data, whatever comes after ; We need more than VC dollars. We need the boring stuff. The cables. The cooling systems. The regulatory frameworks. The sovereign compute strategies that let countries control their own digital destiny.This episode digs into those foundations. The less flashy bets that determine what becomes possible.🧠 What You’ll Learn in This Episode:* Why Jakarta's AI beast could flip the regional power dynamic* What Malaysia's policy refresh actually means (and where it'll probably stumble)* How "sovereign compute" became the new national bragging rights* Why Singapore might be hitting scale limits despite its strengths* What this all means for founders trying to build on top🧩 Key Founder Insights:📌 Infrastructure isn't backend anymore- it's competitive advantage📌 Policy theatre only works if you can actually execute📌 Pay attention to infra shifts - they determine your costs, speed, and scale potential📌 Singapore still leads but alternatives are getting real📌 Sovereign cloud, tax structures, data laws — this stuff will matter way more going forward🎧 Listen Now: "Infra Bets & Policy Plays: What's Next for SEA's Startup Ecosystem" on [Spotify] • [YouTube] • [Substack Audio]🔮 Up Next:Episode 5: From Infra Bets to Founder Grit — Why the Philippines Might Be SEA’s Next BreakoutPhilippines deep dive with Joseph De Leon-angel investor, strategist, and ecosystem whisperer. Everyone sleeps on this market — but something’s stirring. We’re going to find out what.🔁 Missed Episode 4A?Episode 4A was all about SEA's capital flows and why the funding game is so lopsided right now.🎧 Listen to Episode 4A on Spotify📺 Watch it on YouTube📩 Subscribe. Share. You know a founder who needs this — go ahead and hit send.This is SEA of Startups — where we skip the fluff and get real about what's happening.Build smart. Build deep.— Kim and KevinUsual disclaimer: This isn't investment advice. Just real talk from people who live this stuff.🌐 Supporting Sources & Citations* Jakarta’s $2.3 B AI Megacenter* Edgnex (Damac Group) is investing US $2.3 billion in a 144 MW AI-focused data center in Jakarta, with phase one expected to launch in late 2026 BERNAMA+15DataCenterDynamics+15Capacity Media+15.* Confirmed by the Indonesian government’s Ministry of Communications and Digital, calling it a key investment that will bridge digital infrastructure gaps Antara News.* Malaysia’s VC Reboot via Jelawang Capital & Tax Incentives* Khazanah’s Jelawang Capital has selected five VC firms under the Emerging Fund Managers Programme (EMP) and Regional Fund Managers Initiative, including Vynn Capital, Kairous Capital, AppWorks, and Granite Asia Capacity Media+13Jelawang Capital+13Jelawang Capital+13.* The Malaysian government has approved concessionary VC tax incentives: a 5 % tax rate (for 10 years) for funds investing at least 20 % locally, plus a 10 % rate for fund management companies bloomberg.com+3thestar.com.my+3BERNAMA+3.🚀 Thanks for diving into SEA of Startups. If you're into raw convos, sharp takes, and real stories from Southeast Asia’s startup trenches Subscribe for free to get new drops-straight to your inbox. No fluff. No FOMO. Just the good stuff.Heard something that hit? This post is public — pass it on.Thoughts? Let us know what’s brewing? Lets go This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

🎧 Episode 4A: Funding’s Up, Startups Down? Southeast Asia’s Barbell Economy in 2025Welcome to Part 1 of our two-part deep dive on the state of startup funding in Southeast Asia.One month into the SEA of Startups podcast, we’re marking the milestone with a special two-parter that cuts through the noise — and goes straight to where the money’s moving (or not moving).In this episode, we unpack the hard numbers behind Southeast Asia’s $2B funding snapshot for H1 2025 — and what it reveals about the barbell effect:→ Fat late-stage rounds.→ Starved early-stage pipeline.→ Not much in between.Spoiler: If you’re raising a seed round, this might explain a few things.🧠 What We Cover:The 80% drop in seed deals since 2022Why Singapore accounted for 92% of all VC fundingFlight-to-quality behavior: big checks only for proven betsWhy the unicorn drought may signal a longer-term innovation gapWhat this barbell dynamic means for the future of the SEA ecosystem🔍 Key Stats:$2B total raised in H1 202556 seed-stage deals (vs. 200 in H1 2024, 245 in H2 2022)Only 1 unicorn minted: Sygnum Bank (Singapore)10 late-stage deals accounted for $1.4B — avg. $140M per deal92% of all funding routed through Singapore entities🎧 Listen now on your favorite platform:Spotify | YouTube | Substack | Apple Podcasts🛎️ Stay tuned for Part 2 — where we dig into Jakarta’s $2.3B AI data center, Malaysia’s startup policy reboot, and the infrastructure tailwinds shaping what comes next.📌 Disclaimer: Everything discussed reflects personal perspectives only. This is not financial advice, and we’re not speaking on behalf of any organization. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

“These APIs are pretty cool… they allow people to sell quickly without having to go through bureaucratic buying processes.”— Chris Birrell🧠 Episode 3: Deep, Narrow & Agentic — with Chris Birrell (FUNC Ventures)In this episode of SEA of Startups, we dig into the quiet revolution happening inside the software stack — where smart APIs, agentic AI, and vertical SaaS are giving focused founders an edge over generic platforms.Our guest this week: Chris Birrell, Managing Partner at FUNC Ventures — a multi-exit founder and deep-tech operator who’s seen this shift from both the enterprise buyer’s seat and the founder’s side of the table.This isn’t about building big.It’s about building specific.Precision, embedded value, and leverage — not noise.💡 What You'll Learn✅ What agentic AI actually is — and how it goes beyond automation to full-stack decision-making✅ How APIs act as distribution tools, not just plumbing✅ Why deep-and-narrow beats “all-in-one” in vertical SaaS✅ How to stay defensible as OpenAI and the majors keep moving fast✅ What founders in Southeast Asia need to do differently — mindset, model, and moats🧩 Real-World Examples We Cover• Using APIs to bypass enterprise red tape• Agentic flows for KYC, gym memberships, and onboarding• How Stripe and Twilio scaled by staying narrow, then expanding• What an “AI-native” stack might look like in healthtech, fintech, and transport• Why founders with specialist insight are best positioned to win the agentic future🎧 Listen or Watch📺 Watch on YouTube: https://www.youtube.com/@SEAofStartups🎧 Listen on Spotify: https://lnkd.in/gmMi2NyR 📨 Subscribe on Substack:https://lnkd.in/gVfiXaPzIf Episode 2 explored the funding terrain,Episode 3 dives into the stack itself —where the real leverage is quietly being built.And if this feels like a calm before the storm… you’re not wrong. 💥 This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

🎙️ EPISODE 2: The Road Less Funded – Seed-Strapping with StrategyWelcome back to SEA of Startups — where Southeast Asia’s startup game gets real. No hype. No fluff. Just raw conversations with the people building and backing what’s next.If Episode 1 was our reset, Episode 2 is the reframe — and we’re calling it: Seed-Strapping. That gritty middle ground between bootstrapping till burnout and fundraising your way into a diluted cap table (or a derailed vision).This week, Kevin takes the hot seat as we unpack:💡 What is Seed-Strapping?Not bootstrapping, not blitzscaling — it’s raising just enough to move fast without losing your soul (or equity).🌏 Why it matters more in Southeast AsiaLess capital, more constraint = sharper strategy. Tools like AI are leveling the playing field.📉 The risk of raising too much too soonIndigestion kills more startups than starvation. Go big only if the market demands it.You’ll also hear Kevin’s story — from Wall Street to launching Indelible Ventures in Malaysia — and his deeper take on capital efficiency in his Tech in Asia article: “How seed-strapping is killing endless funding rounds" a must-read companion to this episode.Cheat Sheet for Seed-Strappers:Be ruthless with capital.Hire with intent, not ego.Just say no — especially to dumb money.Default alive > Growth theater.Build fast. Don’t fall down the mountain.👀 Next up: What happens when your co-founder isn’t even human? We deep dive into Agentic AI with Chris Birrell. Think founder energy… made of code. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This isn’t a fluffy reset. It’s a recalibration.SEA of Startups is back — sharper, bolder, and more real than ever.In this special kickoff, co-hosts Kevin Brockland (Indelible Ventures) and Kimberley Yeoh (Producer & Co-host) share what inspired this new chapter, and what listeners can expect from the episodes ahead.This isn’t just a podcast — it’s a space for authentic conversations, layered perspectives, and the untold stories shaping Southeast Asia’s startup ecosystem.🎯 In this episode:Why we’re relaunching with fresh energy and deeper intentWhat kind of founder and funder stories we’re spotlightingHow ambition, vulnerability, and iteration define this regionOur vision for building a more connected, honest startup conversation🎙 If you're a founder building in the thick of it, or a funder tired of surface-level noise — this one's for you. Tune in and be part of the conversation.Follow, share, tag us — or just send it to someone who needs to hear this. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This time around, we are sharing a recent presentation that our host gave at a recent event in which he discussed the different players in a startup ecosystem and how the current environment in Malaysia shapes up. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Jeremy Au. You may know him from the BRAVE Southeast Asia Tech Podcast or from Monk’s Hill Ventures. We cover a lot of ground chatting about the VC ecosystem.I’d love to know what you took away from this conversation with Jeremy Au. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to hear more from The Indelible VC:• Newsletter: • Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Hanif Wahid the Founder of Delyva, which is is a multi-courier delivery platform recommends the best-performing courier service for every delivery.This was a great conversation with Hanif as we talked about the founding story and how they have grown.  We talk about the importance of customer feedback in building the product and scaling the business.I’d love to know what you took away from this conversation with Hanif Wahid. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.Listen now on Apple, Spotify, Google, Overcast, Pocket Casts, and YouTube.—Where to find Hanif Wahid:• LinkedIn: https://www.linkedin.com/in/hanifwahid/• Delyva: https://delyva.com/—Where to hear more from The Indelible VC:• Newsletter: • Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Ganesh Bangah, a serial entrepreneur with a resume longer than this podcast. He built MOL Global which listed on NASDAQ and later sold to Razer and is currently focused on Commerce.Asia as well as ASX-listed Netccentric.This was a great conversation with Ganesh where navigate the evolution from cyber cafes to selling points to gaming.  We talked about acquiring Friendster, one of the earliest social media players and then listing on NASDAQ. We wrap up by focusing on his current endeavors with Commerce.Asia and what drove him to acquire control in Netccentric, an ASX-listed company.I’d love to know what you took away from this conversation with Ganesh Bangah. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.Listen now on Apple, Spotify, Google, Overcast, Pocket Casts, and YouTube.—Where to find Ganesh Bangah:• LinkedIn: https://www.linkedin.com/in/ganeshbangah/• Commerce.Asia:  https://www.commerce.asia/—Where to hear more from The Indelible VC:• Newsletter: • Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:38] Building MOL Global from cyber cafes to NASDAQ listing.[9:40] The acquisition of Friendster and leveraging the community.[17:44] Transitioning towards strategic investments.[25:33] Investing in an influencer marketing company and other initiatives.[33:53] The new technologies that will shape the future.[41:53] Closing questions.— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Ben Bagg the Founder of Nectar Group, which is focused on enabling companies looking to expand across the APAC through as a Sales & marketing driven revenue generator.This was a great conversation with Ben where we talked about the early days of bootstrapping a lead generation business.  We talk about merging his business with a co-founder and building off of the business synergies between the two.  A lot of takeaways from this conversation on sales and marketing.I’d love to know what you took away from this conversation with Ben Bagg. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.Listen now on Apple, Spotify, Google, Overcast, Pocket Casts, and YouTube.—Where to find Ben Bagg:• LinkedIn: https://www.linkedin.com/in/ben-bagg/• Nectar Group:  https://nectargroup.my/—Where to hear more from The Indelible VC:• Newsletter: • Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[0:38] The origins of becoming an entrepreneur and leading toward Nectar Group[9:25] The challenges of scaling up lead generation and sales qualification across various industries.[18:00] Merging companies and combining strengths in B2B marketing and lead generation.[26:40] Helping clients with lead generation and expanding their businesses across the APAC region[36:00] Vision for the company and becoming known as a "unicorn maker" by helping startups grow and scale.[38:55] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Jonathan Weins the Founder of Pop Meals, which is an F&B company leveraging tech and data to enable tailored experience with better quality and lower prices.This was a great conversation with Jonathan as we navigate the business model pivot towards physical locations.  We talk about how they are applying tech and data and bring the iteration from their software experience to the F&B operations.  A lot of great insights in how they are serving innovation on the menu.I’d love to know what you took away from this conversation with Jonathan Weins. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.Listen now on Apple, Spotify, Google, Overcast, Pocket Casts, and YouTube.—Where to find Jonathan Weins:• LinkedIn: https://www.linkedin.com/in/jonathanweins/• Pop Meals:  https://www.popmeals.com.my/—Where to hear more from The Indelible VC:• Newsletter: • Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[0:38] The origins of becoming an entrepreneur and leading toward Pop Meals.[8:30] How they pivoted their food delivery business to include physical locations, and how they used technology and data to continuously improve their recipes and customer experience.[17:03] The importance of consistency and reliability in the food industry, while also finding a balance with offering new products and catering to local tastes.[25:31] Optimizing food preparation costs and consistency through advanced systems and technology in their rapidly expanding chain of over 40 locations.[33:28] The development of their company's internal systems, including the use of off-the-shelf tools and in-house built systems.[40:45] Closing questions.— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by TM Lee the Founder of CoinGecko, which is the world’s largest independent cryptocurrency data aggregator and has made a name as key provider of fundamental analysis on the crypto market.This was a great conversation with TM as we talked about how he came to be interested in the crypto industry and why they decided to build CoinGecko.  We talk about building a subscription model off the back of an ad-driven model.  We couldn’t avoid talking about the general impact of recent events on the crypto industry as a whole.  A great conversation packed with highlights.I’d love to know what you took away from this conversation with TM Lee. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.Listen now on Apple, Spotify, Google, Overcast, Pocket Casts, and YouTube.—Where to find TM Lee:• LinkedIn: https://www.linkedin.com/in/leetm/• CoinGecko: https://www.coingecko.com/—Where to hear more from The Indelible VC:• Newsletter: • Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:40] The origins of becoming an entrepreneur and leading toward CoinGecko[5:55] Early days of building CoinGecko.[11:30] Establishing product-market fit and identifying the audience.[15:32] Building the first revenue model as ad-supported.[20:45] Creating a monetization model for subscription to its API.[25:12] Looking at the future of crypto and where CoinGecko will be.[36:20] Defining success as an organization.[37:44] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Gil Carmo the Founder of iMotorbike, which is the leading online platform to buy or sell pre-owned Motorcycles with operations in Vietnam and Malaysia.This was a great conversation with Gil where we start with recognizing that there is no right time to start a startup, but you just must go.  We navigate through them making a business model pivot in 2021 and how they have grown to where they are today.  We close out with thoughts on what the future holds for them.I’d love to know what you took away from this conversation with Gil Carmo. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.Listen now on Apple, Spotify, Google, Overcast, Pocket Casts, and YouTube.—Where to find Gil Carmo:• LinkedIn: https://www.linkedin.com/in/gilcarmo/• iMotorbike:  https://imotorbike.com/—Where to hear more from The Indelible VC:• Newsletter: • Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:35] The origin story of becoming an entrepreneur and launching iMotorbike[6:49] The starting point of a blog that evolved to classifieds.[12:57] Coming to the realization that a pivot of business model was required.[20:55] Reconfiguring the business towards a transactional business model.[24:57] The process flow from the viewpoint of a Seller and a Buyer.[39:33] The future for iMotorbike.[42:45] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Ami Sugiyama the Founder of Secai Marche, which is a B2B farm-to-table fulfilment platform that streamlines the supply chain through its in-house software which involves warehouse management and demand forecast systems.This was a great conversation where we talked about her past experience as an entrepreneur in the tea trading business and restaurant business led to the idea for Secai Marche.  We explore the details of how the company built it supply network of farmers and connected them to restaurants and retail.I’d love to know what you took away from this conversation with Ami Sugiyama. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.Listen now on Apple, Spotify, Google, Overcast, Pocket Casts, and YouTube.—Where to find Ami Sugiyama:• LinkedIn:  https://www.linkedin.com/in/ami-sugiyama-96984715b/• Secai Marche:  https://secai-marche.co.jp/—Where to hear more from The Indelible VC:• Newsletter: • Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:24] The origins of becoming an entrepreneur and leading toward Secai Marche.[7:48] The early product and the first days in building the company.[12:20] Early adopter customers for farm direct supply network[20:20] Expanding into retail from the beginning.[25:44] Looking to expand to Singapore.[33:04] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Benjamin Croc the Founder of BrioHR, which is an HR Tech platform that automates repetitive tasks and engages employees for maximum productivity.  They currently serve over 1,000 businesses across Southeast Asia.This was a great conversation with Benjamin as we talked about his experience as a consultant leading him to recognize the pain point and ultimately decide to launch BrioHR.  We cover a lot of ground starting with deciding what the MVP should be to acquiring the initial customers on through to being in 10 countries.  There are some great insights in scaling a business.I’d love to know what you took away from this conversation with Benjamin Croc. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.Listen now on Apple, Spotify, Google, Overcast, Pocket Casts, and YouTube.—Where to find Benjamin Croc:• LinkedIn:  https://www.linkedin.com/in/benjamin-croc-93669426/• BrioHR:  https://briohr.com/—Where to hear more from The Indelible VC:• Newsletter: https://insights.indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:20] The experience as a consultant identified the problem and started the path toward launching BrioHR.[9:16] After realizing the problem, they begin the journey to building and launching a product.[16:00] The onboarding process as a hook to a broader platform.[23:46] The initial go-to-market stages.[30:31] The logic of building a product roadmap and prioritizing.[40:40] How to define success as an organization.[43:27] Closing questions.— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Tunku Danny Mudzaffar the Founder of microLEAP, which is a P2P (Peer-to-Peer) Financing platform that offers both Shariah-Compliant and Conventional lending.This was a great conversation with Tunku Danny where we cover the motivation behind launching microLEAP.  We talk about balancing the supply and demand sides of P2P financing and how listening to what those sides want has driven their product offerings.  An impactful business that continues to scale up and an insightful conversation.I’d love to know what you took away from this conversation with Tunku Danny Mudzaffar. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Tunku Danny Mudzaffar:• LinkedIn:  https://www.linkedin.com/in/tunkudannymudzaffar/• microLEAP:  https://www.microleapasia.com/—Where to hear more from The Indelible VC:• Newsletter: https://insights.indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:14] The origins from banking to becoming an entrepreneur and leading toward microLEAP.[7:03] Fintech first approach to bringing financing to micro and small enterprises.[13:06] Credit scores without a thick credit file.[17:51] From launching Shariah-compliant financing to launching Invoice Financing.[24:22] A teaser on upcoming microLEAP Social Financing.[32:21] Looking at the global Shariah-compliant market opportunity.[39:47] How they define success for microLEAP.[41:11] Closing questions.— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Sharma Lachu the Founder of Accendo, which is a Talent Intelligence Platform company that helps organizations revolutionize how to attract, assess, align, develop, and retain top talent, both inside and outside the company.This was a great conversation with Sharma where we talked about how his childhood led to his entrepreneurial journey.  We also discuss the pivot from a consulting business model versus a scalable SaaS model.  We talk about scaling the business model and the geographic differences as they impact his product.  This was a great conversation with a lot of insights.I’d love to know what you took away from this conversation with Sharma Lachu. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Sharma Lachu:• LinkedIn: https://www.linkedin.com/in/sharma-lachu-04976125/• Accendo: https://accendotechnologies.com/—Where to hear more from The Indelible VC:• Newsletter: https:insights.indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:37] The origins of becoming an entrepreneur and leading toward Accendo[8:44] Going from a consulting model to a software model and remembering their Why.[21:16] Addressing nuance and differences across borders while relying on psychometrics and behavioral psychology.[25:52] From bundling services to productizing automations to create self-serve bundles.[33:15] Impact of the “jaguh kampung” reputation in Malaysia on fundraising[36:30] Taking the playbook used to build Malaysia and applying, with tweaks, to new markets.[43:25] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Shayna Teh the Founder of Food Market Hub, which helps restaurants & suppliers to increase efficiency by centralizing all F&B backend processes in one app.This was a great conversation with Shayna where we cover the journey to launching Food Market Hub from entrepreneurial family to a fashion startup to restaurateur to present.  We talked about building the MVP, scaling customers, raising capital and expanding internationally.  So much useful insights uncovered in this journey.I’d love to know what you took away from this conversation with Shayna Teh. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Shayna Teh:• LinkedIn:  https://www.linkedin.com/in/shayna-teh/• Food Market Hub:  https://www.foodmarkethub.com/—Where to hear more from The Indelible VC:• Newsletter: https://insights.indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:22] The origins of becoming an entrepreneur and leading toward Food Market Hub[11:46] From MVP to traction.[21:51] Looking back at the moment they had Product Market Fit (PMF).[27:41] Figuring out what price to charge.[33:21] Knowing when the right time to expand internationally and how.[41:09] Building teams to address new country markets.[46:49] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Dr Darren Gouk the Founder of AOne.  For those of you who don’t know, AOne eases digitalization of education centers with a learning center management system.This was a great conversation with Darren as we talk about going from a marketplace to a SaaS business.  Through the conversation we navigate from MVP through the various product launches and international expansion.I’d love to know what you took away from this conversation with Dr Darren Gouk. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Dr Darren Gouk:• LinkedIn:  https://www.linkedin.com/in/dr-darren-gouk/• My AOne:  https://aoneschools.com/—Where to hear more from The Indelible VC:• Newsletter: https://insights.indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:28] The origins of becoming an entrepreneur and deciding to build AOne[4:17] Understanding the key pain point for the market and preselling the solution prior to building.[16:08] The go to market strategy and customer acquisition.[25:45] Expanding international and building local teams.[36:20] Looking towards the future for AOne.[39:55] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Jason Low the Founder of Virtualtech Frontier, which is a virtualization and Metaverse enablement company that is developing engagement-driven virtual events, with virtual fairs, exhibitions, livestream events and hybrid events.This was a great conversation with Jason as we talk about the pathway he took, from becoming an entrepreneur, merging with a marketing firm, then back to entrepreneur.  We talk about what he is building in the metaverse and their most recent product launch.I’d love to know what you took away from this conversation with Jason Low. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Jason Low:• LinkedIn:  https://www.linkedin.com/in/jason-low-vtf/• Virtualtech Frontier:  https://virtualtechfrontier.com/—Where to hear more from The Indelible VC:• Newsletter: https://indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:28] The origins of becoming an entrepreneur and leading toward Virtualtech Frontier[10:26] The pandemic causes one chapter to close, but opportunity opens.[19:20] Raising funds and the difference in the questions posed by 500 Global[26:01] Post-pandemic transition from virtual events to low-code Metaverse solution[35:31] The Wix for Metaverse[41:11] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Martin Perez the Founder of PetChef, which is D2C company offering a subscription service of healthy foods for your furry friend.This was a great conversation with Martin where we talk about his background in entrepreneurship and traveling the world.  We talk about the passion for healthy foods for pets and scaling his business.  We close off talking about what comes next for the business.I’d love to know what you took away from this conversation with Martin Perez. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Martin Perez:• LinkedIn:  https://www.linkedin.com/in/zorvak/• PetChef:  https://www.petchef.my/—Where to hear more from The Indelible VC:• Newsletter: https://indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[0:27] The origins of becoming an entrepreneur at an early age from necessity.[5:40] Getting started despite constrained resources.[9:07] The launching of PetChef from personal use to friends to customers[14:56] Marketing healthy foods advantages for pets versus processed foods.[19:10] Varying the recipe offerings of healthy foods plus supplements and treats.[24:24] From home kitchen to dedicated facilities and continuing to outgrow spaces.[28:32] Using metrics and feedback to drive decisions.[30:56] Product positioning and price.[33:43] The next steps for PetChef’s growth[40:22] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Fabio Miceli the Founder of Sonno, which started as a bed in a box D2C company but has now evolved into a full sleep brand with both online and offline channels.This was a great conversation where we learn the origins of launching a sleep brand and how entrepreneurship was always part of him.  We talk about the challenges in launching a physical product and utilizing a D2C approach in a traditional brick and mortar business.  We close with the evolution towards a full sleep brand of products that is now grown beyond D2C to be omnichannel.I’d love to know what you took away from this conversation with Fabio Miceli. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Fabio Miceli:• LinkedIn:  https://www.linkedin.com/in/fabiomiceli/• Sonno:  https://www.sleepsonno.com/—Where to hear more from The Indelible VC:• Newsletter: https://indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[0:27] The origins of becoming an entrepreneur and landing on sleep products.[5:32] Getting the first physical product ready.[12:35] Creating a D2C approach in a typical brick and mortar industry.[22:37] Expanding beyond the bed-in-a-box start towards a full sleep brand.[26:45] Systems for getting customer feedback.[29:52] From D2C to omnichannel with opening physical stores.[39:57] Closing questions.— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Suthan Mookaiah the Founder of Edar.com, which is an online to offline retail grocery chain across Malaysia, and soon to be Indonesia, that allows payment by recycling household waste.This was a great conversation with Suthan was fantastic as we go from corporate retrenchment to covid entrepreneur to business model pivot.  A recurring them to this conversation is partnerships and leveraging those to get scale faster.  This is a social enterprise that is focused on recycling and bring tangible value as credit to the grocery bill.I’d love to know what you took away from this conversation with Suthan Mookaiah. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Suthan Mookaiah:• LinkedIn:  https://www.linkedin.com/in/suthan-mookaiah-a931242a/• Edar.com:  https://edar.com/—Where to hear more from The Indelible VC:• Newsletter: https://insights.indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:28] The origins of becoming an entrepreneur after a corporate job retrenched.[8:53] A pivot after post-covid reopening changed the business and B2C to B2B2C model.[14:20] The thought process on establishing partnerships and expanding a new model.[16:25] Positioning on the value-chain when partnering with existing grocery outlets.[19:27] Managing minimum volume requirements in collecting recyclables/[23:58] Managing the logistics is where the secret sauce lies.[31:43] Understanding the breakeven point of a new expansion market.[38:45] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we had a special collaboration with Founder Institute Malaysia as part of their relaunch and announcing they are open for applications.  In this session, we were joined by Eric Cheng the Founder of Carsome, which is Malaysia’s first and only unicorn.This was a great conversation with Eric as he walks us through the early days of launching Carsome and the pathway they have taken in scaling it to where it is today.  We discuss scaling internationally and the pathway of being a venture-backed company.  An inspiring journey with a lot of lessons for aspiring founders.I’d love to know what you took away from this conversation with Eric Cheng. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Eric Cheng:• LinkedIn:  https://www.linkedin.com/in/ericcheng85/• Carsome:  https://www.carsome.my/—Where to hear more from The Indelible VC:• Newsletter: https://insights.indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[2:25] The origins of entrepreneurship and the pathway to launching Carsome.[7:07] Lessons learned from past entrepreneurship.[9:46] Validating the market and getting feedback.[17:57] From launching to adding features and services.[29:41] Looking to become international early in the business.[34:28] Becoming a Venture-backed company and how it evolves from early stage to later rounds[47:35] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Top Lim of FinHero, which is a FinTech solutions provider operating a Finance as a Service platform ranging from credit scoring, KYC, collections and even supply chain financing.This was a great conversation to discuss how he transitioned from a corporate career at equipment financing entities to launching his own firm.  We talk about the particulars in leveraging technology towards a traditional lending business to bring efficiency and more risk mitigation.  We close out with addressing the need to build trust in entering new markets.I’d love to know what you took away from this conversation with Top Lim. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Top Lim:• LinkedIn:  https://www.linkedin.com/in/top-lim-3a38842b/• FinHero:  https://finhero.asia/—Where to hear more from The Indelible VC:• Newsletter: https://indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:25] Worked in equipment financing overseeing a large portfolio but decided to strike off on his own.[5:48] The starting point for FinHero product[9:37] Using technology to bring efficiency to traditional lending[14:07] The typical financing case for FinHero[20:35] Building the pool of capital to facilitate the lending activity[27:22] Leveraging technology for credit scoring in B2B[33:35] Navigating regulation[39:35] The biggest hurdle towards expansion[42:26] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Goh Ai Ching of Piktochart, which is an all-in-one tool to easily create infographics, presentations, reports, posters, and videos online either from scratch or by editing a broad range of templates.This was a great conversation to discuss the pathway of a bootstrapped founder.  We talk about what led to the founding of the company, building in the early days, and how the go to market has evolved over time.  We touch on competition with Canva and what the differentiating factor is.I’d love to know what you took away from this conversation with Goh Ai Ching. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Goh Ai Ching:• LinkedIn:  https://www.linkedin.com/in/gohaiching/• Piktochart:  https://piktochart.com/—Where to hear more from The Indelible VC:• Newsletter: https://indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:25] From corporate burnout to entrepreneur[4:37] Going from an idea to building a product[10:27] First steps towards a go to market[16:25] Evolution of the product over time and competition[27:57] Establishing a pricing model and price point[30:52] Managing with metrics as an organization[40:01] The future of Piktochart[42:52] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by Henry Tye of Big Domain, which is a domain registrar that also provides web hosting, web design, SEO services, and several other related services to launch and run a website.This was a great conversation to discuss where we go through the process that led him to launch his business and the experience of a second time founder.  We talk about the rigors of making it through a cohort of Founder Institute.  We wrap up by digging into the evolution of the business and the view toward the future.I’d love to know what you took away from this conversation with Henry Tye. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Henry Tye:• LinkedIn:  https://www.linkedin.com/in/henrytye/• Big Domain:  https://bigdomain.my/—Where to hear more from The Indelible VC:• Newsletter: https://indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:35] The origins of building a business, selling that business, and starting a new one.[13:00] Focusing on making the tech side of online as easy as possible[16:25] Taking time to research the market[21:10] The value of joining Founder Institute after prior exit and still climbing the learning curve[31:35] Changes in the market landscape and view forward[42:34] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com

This week we are joined by serial entrepreneur Charles Tang of Instant eStore, which is an All-In-One Ecommerce Solution serving thousands of clients.This was a great conversation with serial entrepreneur and early pioneer of ecommerce in Malaysia, Charles Tang.  We discussed how he started the business and scaled in the early days.  We touch on the evolution of ecommerce and the need to be omni-channel.  We wrap up with some forward looking thoughts on the future on online commerce and where the metaverse fits it.I’d love to know what you took away from this conversation with Charles Tang. If you’d like to be considered as a guest or have someone that you’d like to hear me speak to, drop me a message.—Where to find Charles Tang:• LinkedIn:  https://www.linkedin.com/in/charlestang77/• Instant eStore:  https://instantestore.com/—Where to hear more from The Indelible VC:• Newsletter: https://insights.indelible.vc• Twitter: https://twitter.com/IndelibleVc• LinkedIn: https://www.linkedin.com/in/kbrockland/—In this episode, we cover:[1:28] The origins of entrepreneurship from accidental to online stores[8:17] Acquiring the first customers[12:56] Early days of e-commerce with global reach[15:50] Product evolution as e-commerce has exploded[22:41] Marketplace platforms vs independent websites[28:40] Key features of an all-in-one solution[31:36] Is metaverse the next move for ecommerce?[44:10] Closing questions— This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit seaofstartups.substack.com